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

Rakuten is shuttering the online shop formerly known as Buy.com

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

From Devin Coldewey at eCommerce – TechCrunch
Originally published 2020 07 31
Rakuten bought Buy.com 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 Rakuten.com (formely Ebates, which it bought for $1 billion in 2014) “is definitely not shutting down and is stronger than ever.”
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