With Ebates, Rakuten says it believes that the combination of the two companies will “help create the world’s most attractive and innovative membership-based, loyalty-driven marketplace for consumers.”
market, where Rakuten now wants to compete more directly. Of particular concern is how large a presence holds in the U.S. Shares fell by 4.2 percent, closing at 1,270 yen, Bloomberg reported – the biggest loss in three months’ time.Īnalysts have questioned the cost-effectiveness of the deal, wondering when these large-scale acquisitions would actually turn a profit for the e-commerce giant.
It will also give our members the greatest incentives to keep shopping.”īut the stock market did not react favorably when news of the talks first leaked out earlier this week, which led Rakuten to confirm that discussions were taking place, via a company statement on Saturday. Combined, Rakuten and Ebates will be able to offer our members access to what will undoubtedly be the world’s largest selection of products across the broadest range of categories. “This is all about the consumer and we are excited to be able to empower our members with even more ways to enjoy shopping on Rakuten and Ebates. “The combination of Rakuten and Ebates is entirely unique and will revolutionize e-commerce,” said Rakuten, Inc. With the acquisition, Japan’s largest e-commerce firm now has a new entry point into the U.S.’s growing e-commerce market, as well as a means to offer similar products, including online e-coupons, back home where they could complement Rakuten’s own online shopping loyalty program, Rakuten Super Points. In 2013, 2.5 million members spent over $2.2 billion shopping through Ebates. San Francisco-based Ebates offers a website that offers customers a way to earn cash back when shopping online at over 2,600 stores including, Macy’s, Best Buy, Home Depot and others. Rakuten is paying $1 billion in cash for the company, and will retain 100 percent of Ebates’ outstanding voting stock, as the deal completes. That’s roughly what Rakuten paid to acquire mobile messaging app Viber back in February.
That deal is now official, as the company announced today it has agreed to acquire Ebates for $1 billion. Rumors have been swirling around Japan’s Rakuten, which has been in discussions with rebate website operator, regarding a potential acquisition deal.
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