Rakuten Inc as announced that it has agreed to acquire Ebates Inc, provider of the largest cash-back shopping website in North America. The Company will acquire Ebates for a total consideration of $1 billion in cash and will hold 100 per cent of Ebates outstanding voting stock.
Rakuten is a pioneer of the B2B/B2C marketplace shopping model which aims to empower merchants and deliver the world’s most engaging shopping experience. Rakuten also offers a loyalty programme via its Rakuten Super Points. Similarly, Ebates is a leader in online cash back shopping, which rewards shoppers with cash back on purchases while also providing access to thousands of coupons, discounts, promotions and special deals, including free shipping, at over 2,600 retailers. In 2013 members spent over US $2.2 billion shopping through Ebates.
“The combination of Rakuten and Ebates is entirely unique and will revolutionise eCommerce,” commented Rakuten Inc, founder and CEO Hiroshi Mikitani. “This is all about the customer and we are excited to be able to empower our members with even more ways to enjoy shopping on Rakuten and Ebates. 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. It will also give our members the greatest incentives to keep shopping.”
Rakuten operates throughout Asia, Europe, the Americas and Oceania. Founded in 1997, it is headquartered in Tokyo with over 11,000 employees and partner staff worldwide.
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