Coolsavings' revenues are up and its losses are down
Online direct marketing provider, Coolsavings, has had a good fourth quarter in 2001 with revenues significantly up and losses well down. It also has some new investment.
Coolsavings is forecasting a 40-50% increase in revenue (to US$6m-6.5m) for the fourth quarter of 2001 over the third quarter of 2001, and a 50-60% reduction in the loss before interest, depreciation and amortisation over the same period. The company believes that, with many of its competitors ceasing to trade, it is in a strong position to capitalise on its position. Coolsavings has some 17m members in 16m registered households. Jupiter Media Metrix's October 2001 Top Web Property report ranked Coolsavings as number 49 for October, with 8.4m unique visitors. It has been Jupiter's top coupon web site for 22 months in a row and the number two incentive site.
More money Since the end of July, 2001, Landmark Communications Inc. has invested in and loaned Coolsavings US$21.5m, including $4m in November and $2.5m in December. Landmark is a privately held media company with national and international interests in newspapers, broadcasting, cable programming and electronic publishing. According to Landmark's chairman, Frank Batten, Jnr., "We believe that the company is in an increasingly important space and recently advanced an additional $6.5 million to support its efforts to become the leader in that space."