Savings.com revamps coupon site, puts Calacanis on board

Savings.com has revamped its website by adding more community-oriented features and has put Mahalo founder and CEO Jason Calacanis on its board of directors. With the relaunch, the site is trying to take a social approach where members can hunt for the best deals by commenting or voting on coupons. They can also see the most popular ones in the community.

In joining Savings.com, Calacanis is hopping onto the board of another social shopping startup. (The other is ThisNext.) Calacanis is the entrepreneur who edited Silicon Alley Reporter during Web 1.0 and sold Engadget and other blogs to AOL for more than $25 million.

Founded five years ago, Savings.com has deals from more than 3,400 merchants with brands like Target, Victoria’s Secret and HP and expects to bring in more than $10 million in revenue this year. The company brought in $4 million in a second round of funding led by US Venture Partners in December.

picture-9