Jim Friedland

Rue La La, an invitation-only shopping site, saw revenues increase 26% in the second quarter, or 100% excluding SmartBargains, according to a research note from Cowen and Company. GSI Commerce acquired Retail Convergence last year, the company that operates RueLaLa.com and SmartBargains.com. According to Jim Friedland of Cowen and Company, Rue La La grew almost 100% year over year excluding SmartBargains, which he said was in decline. Rue La La members increased to 2.2 million, up from 1.8 million at the end of the first quarter (March 31, 2010). Rue La La was launched in April 2008 and is