September 09, 2014

Rakuten to Acquire Ebates for $1 Billion

Rakuten acquires ebatesWow. It’s big news Tuesday. Rakuten has just announced that it’s agreed to acquire cash-back shopping site Ebates for $1 billion. We just heard it direct from Dr. Evil: One beeeelllliiiooon dollars!

“The combination of Rakuten and Ebates is entirely unique and will revolutionize e-commerce,” commented Rakuten, Inc. founder and CEO Hiroshi Mikitani. “This is all about the consumer 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 said it believes that the combination of the two companies will help create the world’s most attractive and innovative membership-based, loyalty-driven marketplace for consumers.

Read the full announcement here.