It’s only been a few weeks since SnipSnap co-founder/CEO Ted Mann took to the Disrupt stage to talk about his super-simple coupon saving and sharing app, and now it seems the young company has already hit some major milestones.
Mann revealed that the coupon sharing platform has seen over 1 million coupons clipped since launch, and that out of 160,000 downloads, the service plays home to 50,000 daily active users.
That’s not all the good news Mann had to share — the company has just recently put the final touches on a $900,000 angel round led by Philadelphia-based MentorTech Ventures and Kynetic CEO Michael Rubin. Over half of that sum ($555K, to be precise) was raised last month before Disrupt, with the remainder being closed last Friday.
Combined with some early seed funding from Philadelphia’s DreamIt Ventures, this most recent round puts SnipSnap at $1 million raised, and they’ve already started making plans for that money.
Now that SnipSnap has had a healthy infusion of funds, what’s next for the Philadelphia-based startup? Well, for one, they’re still working on a way to add support for manufacturer coupons to the app — think the coupons that come on the backs of receipts at the grocery store. Mann didn’t offer up a firm timeline on when the feature would find its way into the app, though he was quick to assure us that it would be in place by the time autumn rolls around.
One of Mann’s other short term priorities is expanding his team — Mann included, the team behind the app have been doing an admirable job as is, but SnipSnap is in the process of looking to flesh out their ranks with a marketing VP and a head of business development to help link the service up with more brands who want to push their promotions in front of SnipSnap users.
In fact, they’ve already made a bit of progress on that front, as Mann mentioned to me that the company is preparing to launch what he calls “coupon bundle” functionality for the service. When it goes live, users will be able to curate and share their own bundles of coupons with others (he think of it as “Pinterest for coupons). More importantly though, he’s pitching the feature as potential tool for content publishers looking to push their own premium coupon bundles. SnipSnap has already linked with newspaper publisher Gannett to push a coupon bundle promotion into the Sunday editions of some of their newspapers, which will call on users to download all of the print edition’s coupons in one shot with the app.
The last potential addition to the roster is a another developer to help work on the coming Android version of the app. Mann told me that work is already to have the Android version of their coupon sharing app ready to go by August, though we’ll soon see how well they manage to stick to their schedule.