PennySaver will resurface as an online-only publication in the near future, according to officials of MonetizeMore, a Victoria, Canada-based company that purchased the PennySaverUSA domains and other intellectual property in a bankruptcy auction on Sept. 23.
MonetizeMore, founded in 2010, calls itself an ad optimization company.
The auction included the 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 the 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 and posted $200 million in revenue last year. It was acquired by Los Angeles-based investor OpenGate Capital LLC in 2013 for $22.5 million.
