Rakuten announced to set up a joint venture with Indonesian media conglomerate, PT Global Mediacom to launch online shopping mall in late this year. Amount of investment is 384 million yen and Rakuten has 51% share.
PT Global Mediacom possesses a nation wide TV and radio network, newspaper, and news portal site, Okezone.com. The joint venture will invite shops in Indonesia to operate shopping mall for domestic consumers. In a long term, Rakuten plans to link the mall with Rakuten Ichiba in Japan and also Rakuten Taiwan, TARAD.com in Thailand, online mall in China jointly with Baidu, and Buy.com in the US which Rakuten acquires in the end of June.
Internet Watch 5/26/2010