GiftCard Zen Acquired By RetailMeNot For $22M

Phoenix, Arizona-based GiftCard Zen, an online, secondary marketplace for gift cards, has been acquired by RetailMeNot is a $22M deal. RetailMeNot said it would pay $22M in cash plus up to $11M more in additional compensation, based on performance targets and employment of a key employee. RetailMeNot said GiftCard Zen will continue to operate out of Phoenix. GiftCard Zen was founded by Aaron Dragushan, three and a half years ago.