NEW YORK (TheStreet) -- Coupons.com, which recently began trading under the ticker symbol COUP, priced between $12 to $14 before rising to $16 before its initial public offering. Currently, the stock is trading at $32 per share.
TheStreet's Debra Borchardt spoke to CEO Steve Boal, who was happy with the market's reception to his newly public company.
Coupons.com has had rising revenue and improved profitability on a quarter-to-quarter basis, he said, adding that its earnings before interest, taxes, depreciation and amortization has been positive for a full year now.
Regardless of whether the customer redeems the coupon or not, the company still gets paid. However, the redemption rate from customers is roughly 15%. While that might not seem like a lot, consider the redemption rate of the classic paper coupon is less than 1%, Boal said.Although the company has a small segment concentrated on e-commerce, the main focus is coupons. Boal explained that 90% of commerce is still done in a physical store, while 99% of commerce for everyday items is done in a physical store. For that reason, Coupons.com is focused on the coupon market rather than trying to force its way into e-commerce. At current pricing, Coupons.com has a market cap of $2.36 billion.
-- Written by Bret Kenwell in Petoskey, Mich.