Rakuten has taken a stake in a large Chinese online rebates site, the latest acquisition by Japan's biggest ecommerce company.
Fanli offers customers cash back services as well as flash sales for brands. The size of Rakuten's stake was not disclosed but was under 10 per cent, the ecommerce group said, adding that investment values the Chinese online shopping company at around $1bn.
Tokyo-headquartered Rakuten has made a string of acquisitions in recent years as part of a push into digital content amid expanding smartphone and tablet usage. They include Canada's Kobo, an ebooks business and Viki, an online video platform that provides subtitles in more than 160 languages. It has also invested in Pinterest, the online scrapbook site.
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