Tuesday, March 14, 2006

Mall Networks Raises $2M in First Round of Venture Capital - Lexington, Mass.

Mall Networks, a provider of rewards programs that link affinity organizations and online retailers, which officially launched on Monday, has raised its first round of venture capital, led by IDG Ventures Boston. Mall Networks did not disclose the investment amount, but VentureWire reported that the deal totaled about $2 million. Founded by Dave Andre, formerly founding CTO of Upromise, Mall Networks has brought together over 250 online retailers -- including Lands' End, Teleflora, Overstock.com and Travelocity -- into one online mall. The company customizes the mall for programs designed to increase group member loyalty by providing a one-stop shopping where members can earn points for all of their purchases.



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