Rakuten, a Japanese electronic commerce and Internet company, has acquired e-commerce app Slice for an undisclosed amount.
The acquisition is part of the retailer’s attempt to foray into US market. The Japanese retailer believes that the acquisition will broaden its product offerings.
Go deeper with GlobalData
Slice compiles user’ e-mail in-boxes for receipts from Amazon, Nordstrom and other e-commerce sites to consolidate their purchase history, send alerts about package shipments and monitor price changes to help users obtain subsequent rebates.
Rakuten Marketing CEO Yaz Iida said: "We have a vision to grow our business in the U.S. There’s tremendous value in this technology to any company doing business online.
"It all comes down to customer data," Iida added.
Slice, which is based in Palo Alto, California, previously received investments from Lightspeed Venture Partners and Rakuten.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataRakuten, controlled by Japan’s fourth-richest man Hiroshi Mikitani, acquired Viber for $900m in February.
In second quarter, Rakuten witnessed 9% decrease in operating profit, due to weaker trading volumes on its Internet finance platform.
