At a press conference in Tokyo today, Hiroshi Mikitani, founder and CEO of Rakuten, Inc. (TYO:4755 ), confirmed reports that his company will acquire American online coupon firm Ebates . The ticker price comes in at JPY 105 billion (US$1 billion). Founded in 1998, Ebates offers coupons or cash-back incentives to drive online shopping. Stores register on Ebates and post coupon codes or cash-back terms. Shoppers registered at Ebates can then copy the coupon link, click on the product they want to buy, and make the purchase. For cash-back offers, Ebates will send the user a check four times a year or more.
Leading Japanese ecommerce firm Rakuten (TYO:4755 ) released a statement today admitting the company’s involvement in an acquisition bid for American online coupon firm Ebates . This comes after Nikkei reported on Saturday morning that Rakuten had nearly finalized a deal worth over JPY 100 billion (US$951 million). Ebates offers coupons or cash-back incentives to drive online shopping. Stores register on Ebates and post coupon codes or cash-back terms.
Rakuten Super Logistics U.S, a company that provides order fulfillment services for online retailers, has accepted bitcoin after requests from customers. The company has already begun accepting bitcoin payments via BitPay. “We are working to apply this new technology to the benefit of market participants, especially those who can’t now easily access the global e-commerce marketplace,” says Joseph DiSorbo, CEO of Rakuten Super Logistics, referring to the majority of people in emerging markets who are not using credit cards and online payment facilities.
A new feature from Rakuten Bank, unsurprisingly called “Transfer by Facebook,” is being touted by the bank as the first of its kind in the country and is brilliantly simple to use. Launch the Rakuten Bank app, pick the Facebook friend and then enter in the amount to be transferred. There’s no need to know the other person’s banking details. It even works if the friend in question has an account at another bank, although it’s not quite so seamless.
Rakuten (TYO:4755), the Japanese ecommerce conglomerate, held an earnings call today that contained some huge Viber news amidst a sea of big profit announcements. In case there were any doubts, the company’s strong position in the Japanese economy was as apparent as ever – about US$1.38 billion in revenue and US$222 million in operating income for the firm’s second quarter of 2014. Even more impressively, Rakuten was able to show that analysis of its ecommerce data can be used to accurately predict the Japanese government’s own statistical assessments of Japan’s economic health.
As Alibaba prepares for its IPO and Tencent aggressively pushes its WeChat messenger all over the world, it’s easy for folks in the west to forget that there’s another Asian internet giant gunning for a broader global presence – Japan’s Rakuten. Founded in 1997, the Tokyo-based firm earned a name for itself domestically with Rakuten Ichiba, a marketplace that sells virtual store space for vendors looking to reach online customers. Rakuten Ichiba’s success helped it gain the reputation as “Japan’s Amazon,” the firm quickly proved to be about more than ecommerce – it successfully branched into the banking, securities, and travel industries. It even created a juggernaut baseball team in northern Japan.
Japanese ecommerce titan Rakuten (JSD:4755) has just announced its entry into India. To begin with, the firm has today opened a global unit called the Rakuten India Development and Operations Center (RIDOC) in Bangalore. A statement from the company says the center will focus on “infrastructure operations, processes, and resources.” For now, there’s no Rakuten India estore – instead it is working behind the scenes on developing talent in infrastructure automation, software development, and quality assurance.
On May 20 at Singapore Polytechnic, Tech in Asia hosted its monthly Meetup event by bringing in Saemin Ahn (pictured above) for a fireside chat, which was moderated by our editor, Terence Lee. Ahn is a managing partner at Rakuten Ventures, and given that he owns the entire decision-making process there, he was able to share many interesting insights on the Japanese investment scene
Rakuten Marketing, the digital marketing arm of Japanese conglomerate Rakuten, Inc., announced the acquisition of DC Storm, a British marketing analytics firm. The terms of the acquisition were not disclosed. Founded in 2004, DC Storm has steadily grown over the past nine years and established local headquarters in Frankfurt (2008) and New York City (2013).
Apple set off a minor trend ten years ago when it launched its first Apple Store, inspiring other big-name tech firms to launch their own hip-looking hangout spots that double as marketing, sales, and support hubs. Now Japan’s Rakuten is jumping on the bandwagon with the launch of Rakuten CAFE, a cozy eatery that doubles as a playground all-things-Rakuten. The space is set to officially open its doors on Friday.
ESTmob, the Seoul-based team behind file-sharing app Send Anywhere (which we reviewed about a week ago) revealed today it has completed a US$1 million seed round led by Rakuten Ventures. ESTmob cofounder Suhyuk Kang tells Tech in Asia that it will use the funding to expand its userbase around the globe and ramp up the app’s feature set.
TAIPEI — Japanese e-commerce giant Rakuten (樂天) Inc. has gained regulatory approval from the Financial Supervisory Commission (FSC, 金管會) to issue credit cards in Taiwan, as part of its efforts to achieve an ambitious growth target this year. The FSC announced late Tuesday that Rakuten Card Co., a credit card subsidiary of the Japanese online retailer, had been given approval to set up Rakuten Card Taiwan Inc. with capital of NT$300 million (US$9.93 million).
Alipay, China’s popular third-party payment service from tech giant Alibaba, will now be integrated onto Rakuten Global Market, the international e-commerce branch of “Japan’s Amazon.” According to an official statement from Rakuten, 250 shops on Rakuten Global Market will open up transactions with Alipay, though the company intends to increase that number gradually. Currently, 10,000 of Rakuten’s 42,000 domestic vendors sell goods internationally on Rakuten Global Market.
Last month, Rakuten (JSD:4755) acquired Viber messaging app in a $900 million deal as the Japanese ecommerce titan tries to diversify and be more social. Today, Rakuten CEO Hiroshi Mikitani spoke out for the first time about the app, telling Bloomberg that “Viber is one of the most important projects for us.”
Rakuten, the Japanese tech firm best-known for e-commerce, has announced it will develop a new center for research and development in Paris. The office will be the third of its kind for the company, with additional centers in Tokyo and New York. The company claims that the center “will commission projects to help revolutionise data analytics, fraud detection, language, recommendation systems, image processing, user interfaces, and the ‘online to offline’ transition in e-commerce.”
The Wall Street Journal has reported that Rakuten, the Japanese e-commerce firm, will purchase Viber, the Cyprus-based mobile messaging startup for $900 million. The purchase marks a major development for both companies. Rakuten hails from an e-commerce legacy, but in recent years has sought to reach into new verticals. In late 2011 it purchased the team behind Canadian e-book reader Kobo for $315 million, and six months later invested $100 million in US-based social network Pinterest. Viber, meanwhile, was founded in 2010 and funded entirely by money from iMesh, the founders’ previous venture.
Earlier today, the popular messaging app Viber revealed it has been acquired by Rakuten, the Japanese e-commerce titan. The $900 million deal has just been confirmed by Rakuten (JSD:4755), which means the publicly-listed company has had to divulge some interesting numbers related to Viber. Now we know that Viber has over 100 million monthly active users from its 280 million global registered users. We’ve been haranguing messaging apps and other social media to man up and tell us how many active users they have, so it’s good to have this useful metric for one of the world’s top messaging apps.