Japanese online retail juggernaut Rakuten is expanding its reach to South America with the acquisition of a 75% stake in Ikeda, a provider of e-commerce services to many of Brazil’s largest retailers.
Financial terms of the deal were not disclosed.
Founded in 1996 and headquartered in São Paulo, Ikeda provides retailers with a SaaS e-commerce platform, enabling its customers to help build their desired features and provides advisory services to support their online retail operations.
Ikeda currently provides services to over 100 major retailers located all over Brazil.
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The company recently teamed up with Baidu to invest $50 million in an online ‘B2B2C’ shopping mall for Chinese Internet users, acquired Buy.com for $250 million and subsequently spent the exact same amount purchasing France’s PriceMinister.
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- Rakuten launched Rakuten Belanja Online in Indonesia a few days ago jointly with Indonesian largest media conglomerate, PT Global Mediacom Tbk.
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