Rakuten to buy Ebates
Japanese e-commerce company Rakuten is nearing an agreement to buy US-based cash back shopping site Ebates.
Rakuten is reported to be in final talks to acquire Ebates for 100 billion yen ($950 million).
Ebates provides a complementary and cost-effective acquisition and re-engagement channel. It is currently partnered with over 2000 merchants – including 400 of the top 500 online retailers – from Amazon to Zulily.
Billionaire Hiroshi Mikitani’s Rakuten has been splurging on acquisitions recently to seek growth outside Japan. In March, it bought messaging and calling service Viber for $900 million. In July, it agreed to buy an 18 per cent stake in AirAsia Japan, it acquired e-book company Kobo in 2012 and US shopping website Buy.com in 2010.