Daily Deal Site HomeRun Sold

HomeRun, a San Francisco-based deal site, has been acquired by Rearden Commerce, which will make it part of its Deem e-commerce platform.

Image: HomeRun

Another day, another story in the fast-growing and fast-changing daily deal space, and today’s involves lots of money: Rearden Commerce, has bought startup HomeRun, and also has scored $133 million in financing that will help fuel its Deem e-commerce platform.

Terms of the purchase, which includes San Francisco-based HomeRun.com and its OfferEngine platform, which powers group commerce programs for various publishers, were not disclosed.

On Twitter, HomeRun CEO Brad Brodigan announced the news this morning on his feed@bbrodigan. “BIG News 4 @homerun.com family. Acquired by Rearden Commerce. This should stir things up a bit. Exciting Day 4 us.”

The funding places Rearden, which was founded in 1999, at a $1.35 billion valuation, the New York Times reports. Based in Foster City, California, the company has 7,300 business clients and about 40 strategic partners. It offers Web-based applications that help businesses and consumers execute and manage online transactions, such as business travel reservations and consumer loyalty programs. Rearden says that it is using the funding round, led by current investors JPMorgan Chase and American Express, as well as new investor Citigroup, for acquisitions and other “high-growth initiatives.”

The investment dollars will also be used to speedily incorporate HomeRun’s daily deal setup into Rearden’s Deem e-commerce platform, which uses advanced personalization technology to connect merchants with consumers, providing the latter with relevant offers based on their “identities, locations, and context,” the company said.

“This is a group of some of the world’s leaders in commerce for consumers and merchants alike, and we believe that the combination of their assets and the Deem platform are indeed transformational,” Patrick Grady, the chief executive of Rearden, said in a statement.

HomeRun, which has more than doubled its membership to 3 million subscriptions since February 2011, with approximately 90 percent of that growth coming from viral marketing, will continue to offer daily deals to customers, but it will do it via the Deem platform in the coming months, the release said.

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