A missed alternative: Rakuten bought California-based buying portal Buy.com again in 2010 for $250 million. Buy.com appeared like an amazing identify for a web based retail store – it was quick, simple to spell and troublesome to overlook. A dream area to personal, if you’ll. Yet in 2013, the Japanese conglomerate determined to ditch the branding in favor of the Rakuten identify, which had nearly zero market consciousness in the US at the moment. Visiting Buy.com after the rebrand merely directed guests to the predominant Rakuten web site.
Japanese e-commerce big Rakuten is shutting down its on-line retail retailer in the US, the firm has confirmed to TechCrunch.
In late 2014, Rakuten purchased on-line rebate web site Ebates.com for $1 billion in money, additional bolstering its place in the US e-commerce house. The firm was additionally an early adopter of Bitcoin, permitting customers to pay for purchases on Rakuten.com utilizing the digital foreign money from early 2015 on.
Per TechCrunch, Rakuten.com will stay operational for the subsequent two months, permitting US customers to put orders at any level throughout that point. Once the clock runs out, nonetheless, the web site will shut down for good, we’re instructed, and the firm’s practically 100 US staff can be out of a job.
An precise date for Rakuten’s US web site closure wasn’t supplied.