Rakuten completes acquisition of Buy.com

Japanese Internet company Rakuten, has closed an all-cash sales transaction to acquire Buy.com.

Buy.com will continue its mission of being a destination site that stands for the best of online shopping as a wholly-owned subsidiary of Rakuten, and will remain headquartered in Aliso Viejo, Calif. Rakuten will retain Buy.com’s executive management team and staff.

Buy.com is a retail marketplace with around 14 million customers. Buy.com was founded in June 1997.

In Japan, Rakuten has approximately 64 million registered members and sales in 2009 totaled US$3.2 billion. Its core business “Rakuten Ichiba” is Japan’s largest Internet shopping mall. In addition to its Internet shopping mall, Rakuten, which has more than 6,000 employees, is engaged in other Internet businesses such as travel agency and financial services.

Location: USA, Aliso, CA

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