Surges in Debut After Pricing IPO Shares Inc., which took coupon clipping to the Web in 1998, almost doubled in its debut after the online discounter raised $168 million in its initial public offering, pricing the shares above the marketed range.

The stock surged 88 percent to $30 at 4 p.m. in New York, giving the company a market value of about $2.2 billion. The company sold 10.5 million shares for $16 each, according to a statement yesterday, after offering them for $12 to $14. The stock is listed on the New York Stock Exchange under COUP., based in Mountain View, California, makes money when a consumer downloads a coupon for redemption. While the company has been unprofitable on an annual basis since at least 2009, sales rose 50 percent to $168 million last year from $112 million a year earlier, regulatory filings show. In the three months ended Dec. 31, posted net income of $1.5 million.

“You want to meet consumers where they want to be met,” Steven Boal, the company’s founder and chief executive officer, said in an interview today from the NYSE. “We’re going to see a continued drive toward smartphones, and all our platforms are enabled for that.”

Passport Capital LLC, the $3.2 billion hedge-fund firm run by John Burbank, holds a 19 percent stake in after the offering, according to the original terms of the prospectus, while T. Rowe Price Group Inc. owns 10 percent.

A $200 million investment from institutional investors in 2011 valued the company at $1 billion, a person with knowledge of the matter said at the time.

Goldman Sachs Group Inc., Allen & Co., Bank of America Corp. and Royal Bank of Canada managed the IPO.

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