Newspaper freestanding insert marketer Valassis, Livonia, MI, has decided to pull the funding on Save.com, its Internet couponing venture, paving the way for its immediate closure.
Save.com could not attract enough funding to carry it to profitability or gain a critical mass of advertisers to participate in its programs.
” The current advertising industry recession, combined with the decline of so many internet investments, has caused a general skepticism about internet advertising,” said Valassis CEO Alan F. Schultz, in a statement.
Valassis will take a charge in the third quarter ending Sept. 30, for the closedown of Save.com and the redeployment of some of its personnel. The firm continues a small passive investment in Internet couponer Coupons.com.
Meanwhile, the Bedford, MA-based Internet couponing company CouponSurfer.com has offered Save.com members free membership in its company programs and former Save.com clients, a free 30-day trial on CouponSurfer.com.
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