Rakuten has acquired e-tail and marketplace operation Buy.com in a deal valued at approximately $250 million.
Buy.com has risen in prominence in the UK internet technology market since it launched in February, and has a strong history in the US dating back to the pre-dotcom boom era. The business utilises an e-Bay style market place as the cornerstone of its operation.
Rakuten itself is a Japanese based firm focussing on a similar style of business.
Combined, the two companies sell 60 million products from close to 35,000 merchants around the globe.
You can read our full interview with Buy.com’s European MD here.
“At Buy.com we have made it our mission to develop a destination site that stands for the best of online shopping – great deals, strong product insights and special features that make the online shopping experience convenient and affordable,” said Neel Grover, CEO and President of Buy.com. “Given Rakuten’s global success, their leadership and strengths will help take Buy.com to an entirely new level of competition in online retailing.”