20 Things You Didn't Know about RetailMeNot
Chances are, you've probably heard of RetailMeNot, the company that operates its own website and uses coupons to help their consumers save money. You might be one of the people that uses these coupons on a routine basis or maybe you have never really done anything with the company so you don't know much more than what you've seen on their commercials. If you're interested in finding out more, now is the perfect time because you can find out 20 things about the company that are listed below.
1. It all got started with coupons
It's already been touched on in the introduction, but it's worth repeating. This entire website got its start because of people cutting coupons. That's what the whole thing is about. It's a method of helping people stay on their budgets but it's actually designed to provide all kinds of information to their customers. If that's something that intrigues you, keep reading to find out just how much a site like this can really help you save money, too.
2. They are based in Austin, Texas
For a long time, the company didn't really have a headquarters, per se. These days, they definitely do but they've grown a lot since they were first formed. If you're interested in knowing exactly where that company is based, it's in Austin, Texas.
3. They also have a similar company that operates in the United Kingdom
Most people think of this as a distinctly American company but in reality, they operate a separate website that is very similar to RetailMeNot which is dedicated to their consumers in the United Kingdom. This gives them a true global reach, not to mention the fact that they have customers from literally every part of the world. It's even more interesting when you know that they only have about 500 employees but since it's a web-based company that does everything online, they can do a great deal with a fairly small staff.
4. They actually own most of the coupon sites they sponsor
Another thing that people are usually surprised about is the fact that they often purchase other sites that feature coupons so that they can have total ownership of those coupons that are being presented to consumers. This is one way that they keep control over the entire industry. In the end, consumers are still saving money because they're able to use discount coupons on the products and services they purchase but the company makes money too because they don't have to worry as much about someone getting into some sort of bidding war with them.
5. They've been doing business for more than a decade now
It's hard to believe, but they've been doing business for 12 years now. A lot of people, especially those that don't currently utilize the service and aren't especially tech savvy, still think of them as a relatively new company but they've been around the block a time or two and they've definitely been around long enough to know what they're doing.
6. The whole company was an idea between two friends
The company might never have been started if it weren't for the fact that two friends who just happened to have an entrepreneurial spirit were sitting around talking to each other one day. They were in college and coming up with different things that they could do to make money in order to offset the cost of their education. They came up with the idea of developing a website that would allow people to get past a lot of the services that force you to provide your identity and pay up in order to enjoy their services. Somehow, that idea eventually took off and then turned into a website where customers could use coupons to save money. If it hadn't been for the conversation they had on that day, this site very well may not exist.
7. For years, it was operated by these two individuals alone
You might also be surprised to know that for a very long time, these were the only two people who were operating the website. They didn't have staff, nor did they have an official headquarters at the time. In fact, they were operating the website out of the apartment building of one of the individuals involved and they handled everything on their own. It was actually several years into the operation before things changed and that will be discussed in the next paragraph.
8. Eventually, they proved successful enough that they were purchased by another company
As previously mentioned, they were operating the business on their own but they were growing by leaps and bounds and getting more and more successful as they went. It got the attention of a major marketing company known as Whale Shark. You might have heard of that company before, as they do a great deal of marketing, especially internet marketing. They decided they wanted to get in on the action so they purchased the company from these two individuals, developed a true corporate headquarters and hired several hundred individuals. That helped the company grow into what you see today.
9. Shortly after that, the company started trading publicly on the stock market
It didn't take them long after that purchase before they started trading publicly on the stock market. To this day, the company is publicly traded and if you're watching that sort of thing, you can see that they're making a bigger profit with each passing quarter.
10. You can find coupons on the site for almost anything
One of the things that consumers really love is that it doesn't matter what you're looking for, you can find a coupon for almost any type of good or service on this site. If you're looking for a way to save money at the grocery store, this is a great place to go but the same is true for more obscure things such as carpet cleaning, pet grooming and everything in between. There's really nothing you can't find so it doesn't matter if you're just paying for the basics or if you're trying to have a night out on the town, you can use the site to save some money in the process.
11. There's currently an app for your smartphone
Like every good website, there's an app that you can put on your smartphone so you don't have to go to the trouble of going online and visiting the website every time you want a coupon. Instead, you can simply download the app and then access it directly from your smartphone whenever and wherever you choose. It's all about giving you the maximum amount of flexibility through allowing you to access as many coupons as possible when you need them most. It also gives you an opportunity to access those coupons on the fly as opposed to sitting down and creating a plan of attack every time you go shopping.
12. Customers actually save a lot of money by using the site
Clearly, customers have the opportunity to save a lot of money by using a site like this. Almost everyone likes the idea of saving money. Even if you make more than enough money to do everything you want to do (and who can really say that), it's still nice to be able to save money where you can and this is a site that helps you do exactly that on a consistent basis.
13. They make money by getting a certain amount of proceeds from ads
If you're wondering how the company makes money, most of it is from ads. Typically, they get a certain amount of proceeds from any ads that they offer. It works like this. They place ads on the site along with coupons for certain goods and services and anytime that you're interested in getting a coupon for that particular item, you click on it. For every click, they get a certain percentage of the proceeds. It's a good form of business because it gives you as the consumer an opportunity to save money by getting coupons you probably couldn't get anywhere else and it allows the company to make money so they can continue operating and providing these types of services.
14. They have seen their fair share of legal issues
For the most part, they've managed to stay out of legal trouble but they did find themselves in hot water once when they posted coupons on their website and the company, Mary Kay, requested that they remove them immediately. For whatever reason, Mary Kay didn't want coupons posted online and for a reason that no one will never understand, RetailMeNot didn't take the coupons down. This resulted in a lawsuit. Aside from that, they have pretty much kept their noses clean.
15. They tried very hard to keep those types of issues quiet
Once they realized that this legal nightmare wasn't going to go away, they decided that they didn't want word to get out any more than it already had. They chose not to go to court, but instead to pay Mary Kay an undisclosed amount of money and remove the coupons from the site. This effectively put the matter to bed and since then, they've been a lot more careful about making sure that they have permission to post any and all coupons before they actually do so. It's also one reason that they prefer to either purchase a lot of the companies that they do business with or strike binding partnerships with them, so they won't have to worry about this type of thing again in the future.
16. You can often find coupons that are tailored to your location
One reason consumers love this site is because they can find coupons that are tailored to their exact location. Obviously, the coupons that work well for you might not work well for someone else that's 500 miles away. Being able to find the best coupons in the area based on your location is one of the reasons that so many people use the site in the first place. It gives them an opportunity to take full advantage of any and all promotional offers in the area without having to do endless amounts of research on their own in order to find out where these offers are.
17. Many of those coupons don't have to be printed
The days where everything has to be presented on paper are quickly coming to a close and in many cases, getting a coupon with RetailMeNot is just as simple as showing it to someone on your smartphone and getting the discount. The company really does strive to make everything as easy as possible and to reduce the workload on the consumers’ part so that they don't have to spend a lot of extra time printing coupons and then keeping up with them every time they go shopping.
18. It definitely makes shopping easier
That's why so many people utilize the service. They make shopping and saving money easier than it's ever been in the past. As a matter of fact, it's become so effortless that you have to wonder why everyone isn't using the service by now.
19. Their service is a way to move coupon cutting into modern times
Chances are, you watched your mom cut coupons from the Sunday newspaper and then you watched her struggle to find a place to store all of those coupons, not to mention fumbling with them every time she went shopping. The reason she did all of that was to stay on budget. RetailMeNot brings coupon cutting into modern times and it gives you the chance to save money as well, without all the hassle.
20. It's an effective measure for anyone who's trying to cut costs
There is no doubt that this is an effective measure for anybody that's trying to save money. Every little bit counts so it doesn't matter if you're trying to save a little or a lot, this is one of the best ways to make sure that you're really not spending any more money than you have to on the things that you purchase week after week, month after month.
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Written by Garrett Parker
Read more posts by Garrett Parker
