Japan Rakuten to buy us online retailer Ebates

Source: Internet
Author: User
Keywords Japan acquisition Rakuten
Tags company online online retailer services the source the source said

Absrtact: September 8, Hiroshi Mikitani, a billionaire Mikitani, plans to invest 950 million of billions of dollars to buy us online retailer Ebates to expand overseas markets. According to a statement issued September 6 by the company,

September 8, Hiroshi Mikitani, billionaire Mikitani (Rakuten), Japan's E-commerce giant, plans to invest 950 million of billions of dollars to buy us online retailer Ebates to expand overseas markets.

Rakuten and Ebates are negotiating the deal, according to the company's September 6 announcement. The source said Rakuten's bid could be about 100 billion yen (about 950 million U.S. dollars), and the two sides are close to reaching a final deal, which could be announced as early as this week.

But investors don't seem to be bullish on the deal. In Tokyo's stock exchange, Rakuten's shares fell to 1263 yen, down about 4.7% per cent. This is the biggest drop in Rakuten's share price since May 9 this year.

In March this year, Rakuten spent $900 million on a cross-platform internet phone and instant Messaging Service (Viber). According to Rakuten's revenue report released last month, the Viber registered subscribers have reached 608 million, up 200 million from the end of last year. Lotte CEO Mikitani said, Viber download volume in India, Russia, Latin America and Southeast Asia, especially rapid growth, Lotte to the electric business services and Viber integration.

According to the agreement between the two sides, Rakuten will receive a range of services after the acquisition of Ebates, including offering rebates to those who shop on Ebates's website, the source said. Mitsushige Akino, CEO of Ichiyoshi Asset Management, said that since neither side disclosed details of the deal, it was unclear what chemical reaction the takeover would produce, so it is hard to tell whether the deal is reasonable.

This June, Rakuten said it was open to large-scale acquisitions. It was the first day that Rakuten issued a public bond, selling three-year bonds worth 30 billion of yen, consolidating the company's finances.

Rakuten is speeding up acquisitions in Japan and abroad. In July this year Lotte announced that it would build an airline with AirAsia Bhd and hold a 18% per cent stake in Japan's Low-cost air services sector. 2012 Lotte also acquired the Canadian E-book company kobo,2010 $250 million a year to buy the U.S. shopping website Buy.com.

Ebates was founded in 1998 and headquartered in San Francisco, USA. The company offers discounts and deals for more than 1700 online stores, including Amazon, Macy ' s and Home Depot, where users can receive a percentage discount per transaction on a quarterly basis. Rakuten has also launched a user loyalty program that allows users to use the points they earn in future purchases. (Beckham)

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