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The Deal: Home Depot downloads Red Beacon

Date: 24-Jan-2012

Retailer Home Depot Inc. said Friday, Jan. 20, that it has purchased online home services marketplace Red Beacon Inc. The target's website allows consumers to book local contractors, and includes price quotes and ratings from prior users. Mayfield Fund and Venrock invested $7.4 million in Red Beacon in 2010. The San Mateo, Calif., online company named Anthony Rodio CEO in October. Among other positions, Rodio had management positions at SideStep, which Kayak Software Corp. acquired, and StubHub Inc., purchased by eBay Inc. Rich Brail and Cathy Leonhardt led a team from Peter J. Solomon Co. that advised Home Depot, which retained Cleary Gottlieb Steen & Hamilton LLP lawyers including Ethan Klingsberg, Michael Albano and Len Jacoby. — Chris Nolter

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