Media company Cox Enterprises announced December 10 that it is no longer exploring a sale of Valpak, its Largo, FL-based co-op coupon unit operated by Cox Target Media. Cox announced plans to sell Valpak in August 2008, with Goldman Sachs shopping the direct mail couponing unit.
Cox said it is pleased with Valpak’s performance and potential. “Valpak, for the last 12 months, streamlined operations and managed to perform quite well despite the recession,” said Bobby Amirshahi, director of public affairs at Cox Enterprises. “It also managed to generate revenue in the digital realm, which we feel provides great momentum into the future as a Cox-owned company. The company feels this is a great asset to keep in our portfolio for the long term.”
The coupon distributor enriched Valpak.com, optimized the site for mobile phones and released an iPhone app to distribute mobile coupons. Valpak has also benefited from partnerships with other Cox companies, such as Kudzu.com and Cox Media Group, as well as external partners.
Through the Kudzu.com partnership, consumers searching for savings on the Valpak.com site can view customer reviews and ratings for local companies.