Posted: 2020-07-31 12:59:37

Rakuten is shuttering the online shop formerly known as

rakuten bought and Both have now been shut down in favor of a cash back rewards program at

From Devin Coldewey at eCommerce – TechCrunch
Originally published 2020-07-31
Rakuten bought for $250 million back in 2010 in an attempt to expand its retail business out of its stronghold of Japan. Unfortunately the evolving market, aggressive growth (and targeting of rivals) at Amazon and, likely, the choice to rebrand the once well-known site under the Rakuten name all led to declining business. The original CEO and COO left in 2012.
“We have decided to sunset the U.S. Rakuten Marketplace,” a company representative said in an email to TechCrunch. They clarified, however, that the “cash back rewards” referral business the company operates at (formely Ebates, which it bought for $1 billion in 2014) “is definitely not shutting down and is stronger than ever.”
Read the original post >

Tags:number of business,online retail store,targeting of rival,japanese conglomerate rakuten,cash back reward,company,rakuten u.s. store,stronghold of japan,marketplace,rakuten name,Asia,eCommerce,e-commerce,layoffs,rakuten
about contact
twitter github upwork linkedin
© Copyright 2021 All rights reserved.