Japanese e-commerce giant Rakuten is pressing on with its plans for the North American e-commerce market after it confirmed that it has acquired Ebates, a major online retailer in the US, in a $1 billion deal. The deal has been speculated earlier this week, and it will see Rakuten acquire 100 percent of Ebates. Rakuten founder and CEO Hiroshi Mikitani said that “the combination of Rakuten and Ebates is entirely unique and will revolutionize e-commerce.” The market didn’t appear to agree with that assessment on Monday, when Rakuten’s share price dropped 4 percent based on the rumors. Rakuten — which previously bought Western…
This story continues at The Next Web
The post Japan’s Rakuten buys US retailer Ebates for $1 billion appeared first on The Next Web.