Japan’s Rakuten has acquired Ebates for $1 billion

Rumors have been swirling around Japan’s Rakuten, which has been in discussions with rebate website operator Ebates.com, regarding a potential acquisition deal. 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. Rakuten is paying $1 billion in cash for the company, and will retain 100 percent of Ebates’ outstanding voting stock, as the deal completes. San Francisco-based Ebates offers a website that offers customers a way to earn cash back when shopping online at over 2,600 stores including Amazon.com, Macy’s, Best Buy, Home Depot and others. In 2013, 2.5 million members spent over $2.2 billion shopping through Ebates. With the acquisition, Japan’s largest e-commerce firm now has a new entry point into the U.S.’s growing e-commerce market, as well as a means to offer similar products, including online e-coupons, back home where they could complement Rakuten’s own online shopping loyalty program, Rakuten Super Points.