By Jennifer Faull

Rakuten has acquired cash-back shopping website Ebates for $1bn in cash.

Rakuten, Japan’s biggest e-commerce firm, will also hold 100 per cent of Ebates outstanding voting stock.

Rakuten founder and CEO Hiroshi Mikitani said that the combination of Rakuten and Ebates “will revolutionize e-commerce.”

“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 Read full story ›

Source: The Drum