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Retail Convergence is an e-commerce company formed out of one purchase, nine year old off-price retailer site SmartBargains.com, and newly-launched invite only private sale site Ruelala.com. Investors include General Catalyst Partners, New England Development, Breakaway Ventures and Mugar Enterprises. Ruelala.com is sort of like invite-only social network ASmallWorld, a social network that only... (Read more)

Reprinted with permission from VentureBeat. Story copyright 2008 VentureBeat Inc. All rights reserved.

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