Japanese e-commerce giant Rakuten is pressing on with its plans for the North American e-commerce market after it confirmed that it has acquired_Ebates, the company behind Shopping.com, in a $1 billion deal. The deal has been speculated earlier this week, and it will see Rakuten acquire 100 percent of Ebates. Rakuten founder and CEO Hiroshi Mikitani said that “the_combination of Rakuten and Ebates is entirely unique and will revolutionize e-commerce.” The market didn’t appear to agree with that assessment on Monday, when Rakuten’s share price dropped_4 percent based on the rumors. Rakuten — which previously bought Western online retailers Buy.com...
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