SavingStar, the national paperless grocery coupon service, announced today that Michael Lazerow, the founder and CEO of Buddy Media, has joined the company’s board of directors. Launched in April 2011, SavingStar provides digital coupons to more than 24,000 stores and over 100 supermarket and drugstore chains across the U.S.
SavingStar’s eCoupons are available on the web and through the company’s iPhone and Android apps, and are linked to users’ registered loyalty cards. Rather than applying coupons at the register, the savings are automatically deposited into users’ SavingStar accounts, where they can pick their payout from a deposit into their bank account or PayPal account, an Amazon gift card, or a donation to charity. Nearly 500,000 users have signed up for SavingStar in the two months since the service went live. Participating brands include Nestle, Clorox, Heinz, Welch’s, Dannon, Ocean Spray, and more.
In 2007, Lazerow co-founded Buddy Media, a Facebook management system for global advertisers. With its scalable, secure architecture and straightforward administrative tools, it is the only solution that allows brands to launch, maintain and measure their Facebook presence in any country and in any language. Prior to Buddy Media, Lazerow founded Golf.com, which was sold to Time Warner. Before that, he founded University Wire, an Associated Press-like network of more than 700 student-run newspapers and sold it to Student Advantage, helping it grow into the premier college media and marketing company.
Lazerow joins SavingStar’s current outside board members Jeff Bussbang of Flybridge Capital Partners, Josh Kopelman of First Round Capital, and David Coppins of Upromise. The company announced a $7 Million Series B funding in April.