CoolSavings Losses Widen
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by Chief Marketer Staff
CoolSavings Inc. reported a net loss of $700,000 for the third quarter, compared with a net loss of $500,000 last year.
The online grocery coupon marketer reported net revenue of $9 million for the quarter ended Sept. 30, up 11% from $8 million last year.
“We are very pleased with the early success of CoolSavings’ Lead Generation Network and Grocery Retail Network,” said CEO Matthew Moog in a statement. “Together with our new loyalty initiatives and the continued strength of our targeted e-mail services, we feel we have the pieces in place to deliver positive results for our advertisers, partners and members for the duration of 2004 and beyond.”
