Portfolio March 7, 2014

Congratulations to Steven Boal and the Entire Team

By and

Today, began trading (COUP) on the New York Stock Exchange. We’re very proud here at Greylock for CEO & Founder Steven Boal and his team. is a pioneer in moving the world of coupons over to digital. They’ve unlocked new opportunities for consumer packaged goods marketers, retailers, and consumers. The company provides an end-to-end technology platform to enable coupons to be safely and securely distributed, printed, redeemed, cleared and settled. Millions of consumers use coupons every day — and through the internet and mobile, it’s now easier for people to discover, collect, and use these coupons.

The story is a great illustration of software amplifying retail. While the internet has no doubt presented challenges for traditional retail, it has also enabled new innovations for retailers to embrace. About 95% of consumer retail spending still happens off-line in the physical world. Through adopting software from companies like, retailers and brands can bring more customers to their stores, increase in-store conversion, improve operational efficiency, and deliver a dramatically better real-life shopping experience.

This successful IPO is an important milestone for the company. It’s a reflection of a strong team, a leadership position in a large and growing market, and an ability to scale through technology.

We’re excited to see how the team will continue to build and innovate through this next chapter in their history.