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Print Edition StoriesMonday, April 28, 2008
Retail Convergence caps off $25M funding, buys SmartBargains.com
Having closed on a $25 million Series A round of financing previously reported in Mass High Tech, Retail Convergence Inc. says it acquired off-price e-commerce retailer SmartBargains.com earlier this year.
Retail Convergence also launched RueLaLa.com, an invitation-only e-commerce site that gives users access to two-day private sales of upscale brands.
The Boston-based e-commerce startup, which lists former Reebok CMO Dennis Baldwin, and New England Development co-founders Stephen Karp and Steven Fischman as directors, shares a name with the original parent company of SmartBargains.
SmartBargains CEO Benjamin Fischman, the son of Steven Fischman is also listed as an executive officer of Retail Convergence.
New England Development, Breakaway Ventures, Mugar Enterprises and General Catalyst Partners participated in the funding round.
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