After Laying Off 60 People, RueLaLa Raises $22 Million

Members-only shopping site RueLaLa, a former subsidiary of GSI Commerce (before the eBay acquisition) just cut roughly 60 positions from its workforce of 550 employees, but an SEC filing published yesterday afternoon reveals that the flash sales company also recently completed a $22 million financing round. UPDATE: The company has informed us that the funding is not new. The SEC filing shows the valuation of stock options already granted to parties. RueLaLa was previously part of Retail Convergence, Inc, a company that was acquired by GSI Commerce back in 2009. The Gilt Groupe rival, which is still 30 percent owned by eBay, is based in Boston, Massachusetts.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/tVQhJmtEL0M/

epstein harrisburg pa chynna phillips magic cube slaughterhouse cypher last man standing