US-based online coupon and deal marketplace WhaleShark Media secured $150m in financing from JP Morgan Asset Management, a division of financial services firm JP Morgan, and venture capital firm Institutional Venture Partners (IVP) yesterday, bringing its total funding close to $300m.
WhaleShark had previously raised $143.5m from corporate venturing fund Google Ventures, as well as private equity (PE) firm Austin Ventures, PE investment management firm Adams Street Partners and investment firm Norwest Venture Partners.
WhaleShark operates a range of websites which together form the world’s largest coupons and vouchers marketplace, connecting users with discounts from, at present, more than 130,000 retailers.
The capital will be used to make strategic enhancements to WhaleShark’s technology base, and to fund further acquisitions. In the 18 months since its inception WhaleShark has acquired RetailMeNot – at the time the world’s most visited online coupon site – as well as Deals2Buy, Coupon7, Cheapstingybargains, Deals.com and eConversions, operator of the UK’s biggest coupons website.