Retail Convergence raises $25,000,000

Retail Convergence Inc., a newly formed corporation comprised of a portfolio of ecommerce companies, today announced it has closed a $25 million Series A round of financing.  The first initiative for the new organization included the acquisition of SmartBargains.com, the leading online, off-price retailer. Additionally, Retail Convergence today announced the launch of RueLaLa.com, the invitation-only, private sale ecommerce site driven exclusively by user-generated membership.