Cox Target Media Acquires Savings.com as Complement to Valpak
LARGO, FL—June 21, 2012—Cox Target Media has completed its acquisition of Savings.com, including its sister site, London-based Savoo.co.uk as a wholly owned subsidiary. Savings.com joins Valpak as a Cox Target Media company.
Savings.com is a leading online source for savings, personalized deals and the most knowledgeable money-savings experts online through its DealPro community. Valpak offers localized print and digital savings fueled by a network of franchisees in communities across North America. Through this acquisition, Cox Target Media substantially expands its business across traditional, digital, social and mobile platforms to solve unmet marketing industry needs.
“Cox Target Media and Savings.com were both looking for ways to expand value to businesses and consumers, and realized that when combined, our resources and offerings in print, online and mobile would be powerful and unlike anything else available to marketers,” said Michael Vivio, president of Cox Target Media. “This acquisition brings together national and local savings content, community expertise and multichannel marketing capabilities to provide the best of all worlds for marketers and consumers.
“We also believe Savings.com has tremendous growth opportunity through its international expansion of Savoo.co.uk and we are committed to supporting that effort,” Vivio added.
Through Cox Target Media, marketers can use a variety of online and offline media to drive transactions and offer consumers a rewarding experience:
• Valpak’s familiar blue envelopes of print coupons and loyalty products are mailed to more than 40 million targeted households monthly and opened by nearly 85 percent of consumers. Valpak.com hosts 40,000 offers from local and national retailers and content is distributed to some 150 additional sites, including a suite of apps for mobile devices allowing consumers to browse, save and redeem offers from their mobile, providing advertisers with exceptional exposure.
• Savings.com is one of the largest online savings sites, with more than 5 million visitors monthly seeking coupon codes and online offers from national and online retailers. Savings.com DealPros are an influential network of social media experts and bloggers who share money saving advice to help consumers extend their savings lifestyle. The DealPros collectively reach 10 million highly engaged readers a month.
Working together, Valpak and Savings.com will also offer national merchants the next generation of pay-for-performance advertising that lets marketers drive sales with lower upfront costs than they typically encounter with traditional promotional options.
Consumers visiting Valpak.com and Savings.com will benefit from a more extensive selection of offers and rewarding shopping experience as content is shared across platforms.
“The idea that marketers can blanket consumers with bulk offer distribution is out of date,” said Vivio. “There is a need to provide a more impactful, efficient solution that targets consumers who are looking for savings—and the acquisition of Savings.com alongside the Valpak suite of print, digital and mobile products is a key element of the solution.”
Savings.com and Savoo.co.uk will continue to operate independently, and work together with Valpak, share resources in key areas and leverage each others’ technology platforms and consumer engagement. Loren Bendele, founder and CEO of Savings.com, will continue in his current role at Savings.com.
“At Savings.com, we were looking for options to expand our business to further help consumers lead a better life on a budget,” said Bendele. “The resources and reach of Cox Target Media, including the Valpak brand, and their overall company goals and values were appealing to us in growing our business.
“A key part of the Savings.com platform is our DealPro community of extremely influential and highly engaged money saving experts. We’ve fostered and strengthened this community for several years and continue to connect them with consumers every day to help people truly change their lives through smart spending. We are excited to join the Cox Target Media team and to continue to expand our community’s ability to help people lead better lives on a budget,” Bendele added.
About Cox Media Group
Cox Media Group is an integrated broadcasting, publishing, direct marketing and digital media company that includes the national advertising rep firms of Cox Reps. Additionally, CMG owns and operates Cox Target Media, providers of Valpak, a leading North American direct marketing company and Savings.com, a leading online coupon site and community. With $1.7 billion in revenue, the company operations include 15 broadcast television stations and one local cable channel, 86 radio stations, eight daily newspapers and more than a dozen non-daily publications, and more than 100 digital services. CMG operates in more than 30 media markets and reaches approximately 52 million Americans weekly, including 30 million TV viewers, more than 4 million print and online newspaper readers, and 18 million radio listeners.
About Valpak
Valpak, one of the leading direct marketing companies in North America, is owned and operated by Cox Target Media, a subsidiary of Atlanta-based Cox Media Group. With nearly 170 franchises across the United States and Canada, The Blue Envelope delivers savings and value to nearly 40 million households each month. Annually, Valpak will distribute some 20 billion offers inserted in more than 500 million envelopes.
About Savings.com
Savings.com helps you find the best deals on everything you want. Tell us what stores and categories you like, what city you live in, and we deliver the best deals for you. In addition to providing personalized recommendations, Savings.com has one of the most in-depth databases of online coupons. Shoppers can access thousands of exclusive offers from the biggest retailer names along with up to 100,000 active deals from online and national retailers, daily deal sites and grocery brands. More than 5 million shoppers turn to Savings.com each month as their trusted resource for deals and to interact with the site’s popular community of online coupon experts, the DealPros.
Source: Cox.
