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Rakuten Rewards was founded as Ebates in 1998 in Menlo Park, California, by two former deputy district attorneys, Alessandro Isolani and Paul Wasserman. [5] Funded by the venture capital firm Foundation Capital, [6] Ebates.com was launched on 3 May 1999, offering up to 25% cash back from about 40 online retailers.
By November 2016, the Rakuten card was held by over 13 million people, and nearly 40% of Rakuten's revenue was from financial services, as it was operating Japan's largest Internet bank and third-largest credit company. [19] Rakuten card holders are part of a point-based membership programme and can use those points to make purchases on the ...
Rakuten is a free cashback app that’s popular for good reason. Formerly Ebates, it boasts an impressive 3,500 partner stores across a wide range of shopping categories with automatic returns on ...
The acquisition of Ebates, a website that allows customers to earn cash back when shopping online with over 2,600 retailers, gave Rakuten.com additional presence in the US e-commerce market, as well as a way to offer items such as online e-coupons. [22] [23] In March 2015, Rakuten.com partnered with Bitnet to accept bitcoin as payment. [24] [25]
They clarified, however, that the “cash back rewards” referral business the company operates at Rakuten.com (formely Ebates, which it bought for $1 billion in 2014) ...
That deal is now official, as the company announced today it has agreed to acquire Ebates for $1 billion. That’s roughly what Rakuten paid to acquire mobile messaging app Viber back in February ...
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