US: Rakuten to acquire Ebates for USD 1 billion

Friday 10 October 2014 14:02 CET | News

Rakuten, a global ecommerce platform, has acquired Ebates, an online retail platform, for USD 1 billion.

As part of the deal, Rakuten is set to gain over 2.5 million customers in the US, reports. Ebates members spent USD 2.2 billion on purchases in 2014.

Ebates is a coupons and discounts marketplace and focuses on the ‘cash back’ strategy, which allows users to obtain a cash percentage of the purchase by way of a cheque sent to their home through PayPal, prepaid cards and even donate the amount to an association.

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Keywords: US, Rakuten, Ebates, USD, transaction, retail, online platform, ecommerce, online sales
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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