PennySaver will resurface as an online-only entity in the near future, according to the officials from MonetizeMore, a Victoria, Canada-based company that purchased the PennySaverUSA domains and other intellectual property in a bankruptcy auction held on Sept. 23.
MonetizeMore, founded in 2010, dubs itself an ad optimization company.
The auction included pennysaverusa.com, thepennysaver.com and elpennysaver.com domain names, the pennysaverusa.com classified website and PennySaver’s Facebook account.
Brea-based PennySaver USA LLC in May filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court for the District of Delaware.
The once-free weekly ad publication had 800 editions focused on markets as small as the Balboa Peninsula or the northeast side of Costa Mesa—a selection of zones that gave local advertisers a relatively cheap buy for targeted distribution. It employed about 800 employees and posted $200 million in revenue in 2014. It was acquired by Los Angeles-based investor OpenGate Capital LLC for $22.5 million in 2013.
