Japan-based Rakuten has taken a minority stake in Fanli.com, one of China’s online rebate and rebate-based flash sale companies. The C-series round values the Chinese online shopping company at approximately USD1 billion. As part of this investment, Kevin H. Johnson, CEO of Ebates, a Rakuten Group company, will join Fanli’s board of directors. Rakuten’s investment gives it less than a 10% stake.
Rakuten, Inc. today announced that it has taken a less than 10% stake in Fanli, China’s largest online rebate and rebate based flash sale company. The C-series round values the Chinese online shopping company at approximately US$1 Billion. As part of this investment, Kevin H. Johnson, CEO of Ebates, a Rakuten Group company, will join Fanli’s board of directors. “We are very excited to bring Rakuten on as an investor and welcome Kevin Johnson as a member of our board of directors,” commented Gary Ge, CEO of Fanli.
Ecommerce titan Rakuten is doubling down on its struggling Kobo ereaders by acquiring an ebook marketplace called OverDrive. The deal, announced this afternoon, sees Rakuten buying out US-based OverDrive for US$410 million. OverDrive has over two million ebooks, audiobooks, and videos on its site. The company started out offline in 1986 selling print books and CD-ROMs, and then in 2000 it moved online to form an ebook and audiobook repository.
After hinting several times over the past year or so that it wants to accept Bitcoin on its marketplaces, Japanese ecommerce giant Rakuten announced today that it will start to accept the cryptocurrency on its global marketplaces. The rollout will begin in America, and then spread to Rakuten Germany and Rakuten Austria. Bitnet, an enterprise-focused developer that creates bitcoin platforms, is Rakuten’s partner in the rollout.
Japanese ecommerce conglomerate Rakuten has led a US$530 million investment round for Lyft, the San Francisco based ridesharing startup. TechCrunch first broke the news of the round, and Lyft quickly confirmed it on its blog. Rakuten also told Tech in Asia that it is taking an 11 percent stake in the firm for US$300 million, and provided the following canned statement from CEO Hiroshi Mikitani:
The latest Viber update comes courtesy of Rakuten’s most recent quarterly earning report. The messaging service gained more new monthly active users (MAU) than Line did since its last report. Viber extended its lead by adding 17 million new MAUs to hit 236 million total MAU, while Line added 11 million new users to hit 181 MAU. despite success in that arguably unimportant vanity metric, the financials released by Rakuten show Viber is still running a deficit.
Rakuten, Inc. (TOKYO: 4755) today announced the consolidated financial reports (IFRS) for the Fiscal Year ended December 31, 2014. The Rakuten Group achieved revenue of ¥598,565 million, up 15.4% year-on-year, operating income of ¥106,397 million, up 17.9% year-on-year, and net income attributable to owners of the parent company of ¥70,614 million, up 64.6% year-on-year.
JAPANESE electronic commerce and Internet company Rakuten Inc, via its e-commerce platform Rakuten Online Shopping, is seeking out partnerships with both public and private sectors to grow Malaysia’s e-commerce industry. The company believes that by building partnerships with parties that share the same synergies and philosophies, it is able to encourage a wider adoption of e-commerce among small and medium enterprises (SMEs). This, in turn, helps strengthen the e-commerce ecosystem.
Here’s more proof that Rakuten is serious about becoming a global ecommerce player alongside the likes of Amazon and Alibaba: the Japanese company today launched Rakuten.co.uk. According to TechCrunch, the new UK marketplace will sell goods from Rakuten and third-party retailers, in addition to offerings from its Kobo ebook store and Wuaki video streaming service.
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.