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RetailMeNot Adds Social Network

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Community coupon site RetailMeNot has today launched a social network on top of their coupon portal.

RetailMeNot comes from Melbourne, Australia based Stateless Systems, who would be best known to TechCrunch readers as being the company behind bypass registrations page BugMeNot. I sat down with Guy King from Stateless Systems on Friday for a demo, video above.

RetailMeNot is pushing through some amazing figures for a bootstrapped (non-funded) startup with three employees. The site averages $4 million a month in sales that are accurately recorded through affiliate channels, with only 40% of codes on the site having a direct benefit for RetailMeNot. Estimated total sales through the site are $10 million a month or approx $100 million a year. 600,000 non-affiliate clickthrus were recorded in February 2007 and 440,000 affiliate clickthrus. The site offers 71,000 coupons from 13,000 merchants and is adding 200-300 new coupons a day, 300-400 new comments per day and 9000 votes per day. Traffic and revenue grew at 20% per month through 2007. King wouldn’t tell me how much the site was making, but told me that it was profitable in seven figures.

King sees the social networking side of RetailMeNot as an extension on their core shopping community that will provide hard core bargain hunters a space to talk shopping.

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