Livonia, MI-based Valassis Communications last week announced it was halting all funding of unprofitable print-at-home online couponer Save.com and as a result the site would cease operations.
Save.com launched in June 2000 with a business model spreading offers across many Web sites — essentially an online FSI to complement the massive Valassis Sunday free-standing insert. Over the course of its 14-month existence, Save.com carried coupons from the likes of General Mills, Heinz, Keebler, Sara Lee, and L’Oreal. But the company never gained the reach that Valassis, its largest shareholder, had hoped for. “Everybody says the Internet will be a great place for sales promotion and coupons in particular,” says Lynn Liddle, Valassis vp-p.r. and investor relations. “But it hasn’t gotten enough critical mass yet.”
Valassis, which will take a charge related to the Save.com closing in the third quarter, will retain a small interest in Coupons.com.
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