Rakuten, Inc., is to acquire Ebates Inc., a US-based provider of a membership-based online cash-back site, for $1bn in cash.
Founded in 1999, Ebates provides a membership-based online cash-back site and offers a platform that drives e-Commerce for retailers. The company has over 2,600 enterprises across a variety of retail formats and product genres in its network, including major e-Commerce sites, other retailers with e-Commerce operations, and online travel agencies.
Rakuten has developed a B2B2C online shopping mall in which member merchants can enjoy a range of services including e-Commerce, travel, digital content, and financial services. Now, with Ebates, the company plans to create a product offering ranging from niche to luxury products, and allow consumers to get points, rewards and cash-back upon purchase of products over various partner sites (through Ebates).
Investors Canaan Partners, August Capital, Foundation Capital Management exited the company.
Have a look at an overview of Ebates below:
