WhaleShark Media just moved to a new office in Austin, Texas, which accommodates its growth in operating coupon websites. Interestingly, the new corporate headquarters of the recently started corporation has no walled offices. The area is completely open to provide an environment that inspires brainstorming and exchange of ideas.
WhaleShark has grown considerably since starting business in 2009. The company provides discounts, coupon codes, free trials, and other offers for over 120,000 merchants. Websites operated by WhaleShark include Deals.com, CouponShare.com, and CheapStingyBargains.com. Some other sites owned by WhaleShark are Deals2Buy.com, CouponSeven.com, and the Australian coupon site RetailMeNot. In all, the company owns eight coupon websites.
The main customers for WhaleShark are large retailers that offer deals such as free shipping or a fixed discount amount on the next purchase. WhaleShark generates revenue from commissions paid by the merchants as well as advertising sold on the websites.
The company has raised $145,000,000 of venture capital to fuel growth. WhaleShark is comprised entirely of acquired websites. Annual revenue in 2011 is expected to top $70,000,000 – a 50 percent increase over the prior year. During that period, the staff increased from 25 employees to 135 in order to integrate the engineering, marketing, and management of the growing universe of websites owned by the company.
WhaleShark received an outside capital infusion of $10,000,000 in the summer of 2011. New positions added at the company are executive posts for VP of product development, chief technology officer, and director of business development. By also beefing up the board of directors, WhaleShark Media is positioning itself for an IPO.
Plenty of competition exists in the online coupon field. For example, Performance Marketing Brands – based in San Francisco – is also aggressively buying coupon websites. WhaleShark hopes that its open office arrangement will foster the communication and ideas to capitalize on every opportunity.