Since listing on the Tokyo Stock Exchange in December 2013, Rakuten has continued to grow and diversify its offering, particularly in the areas of digital content, financial services and travel. In 2014, the Japanese company also launched a $100 million investment fund through Rakuten Ventures, an early stage corporate venture capital fund focused on empowering the startup ecosystem to positively affect internet services globally.
In Asia Pacific in particular, Rakuten has established itself as one of the largest global e-commerce players in the market. As of December 2014, Rakuten now offers more than 6.75 million products from almost 255,000 merchants in Indonesia, Malaysia, Singapore, Taiwan and Thailand. Demonstrating Rakuten’s growth in m-commerce, as of Q3 2014 an average of 676% of orders were made via mobile devices.
The Rakuten Tarad marketplace celebrated five years in Thailand this year. Since entering the Thai market with the acquisition of Tarad.com in 2009, Rakuten continues to spearhead the online shopping revolution in Thailand, and now boasts 2.5 million members, while achieving 110% growth in merchants, 300% increase in products available, and 1,876% jump in sales since 2010.
Just this year, the marketplace also launched its Hotline Express service so that shoppers in the Bangkok metropolitan area can receive their orders even sooner. The motorbike delivery service is part of Rakuten Tarad.com’s ongoing commitment to addressing consumer needs, and living up to its promise that shopping is entertainment.
As Rakuten strives to become the world’s leading internet services company, here are some of the key global milestones achieved in 2014.
Rakuten goes global
Rakuten launches Rakuten.co.uk marketplace representing Rakuten’s first major step towards becoming the global leader in e-commerce. Rakuten plans to integrate its retail offering with its ecosystem of internet services, which includes Kobo and Wuaki.tv. Shoppers will soon be able to access digital services offered by Rakuten businesses through a single account and buy from Rakuten marketplaces worldwide.
Rakuten expands video streaming service in Europe, with the launch of Wuaki.tv in France in September and Germany in November, and plans to enter 15 European countries by the end of 2015. France is now the third largest market for Wuaki.tv after Spain where the service launched in 2010 and the UK where it launched in 2013.
Rakuten launches Rakuten.com.sg marketplace in Singapore, expanding its footprint in the Asia-Pacific region. Rakuten established its regional headquarters in Singapore in 2013, to take advantage of its proximity to Rakuten businesses in Thailand, Indonesia and Malaysia, and its potential to become a gateway to interact with the region’s start-up companies.
Rakuten bolsters offering with Viber, Ebates, and Slice acquisitions
Rakuten accelerates its digital strategy by entering global messaging and VoIP, with the acquisition of Viber. The acquisition represents another bold step for Rakuten into the digital content space, following its acquisitions of Kobo, Wuaki.tv, and Viki.
Rakuten acquires Ebates, a pioneer and leader in online cash back shopping, enabling Rakuten and Ebates to offer its members the most empowering - and rewarding - shopping experience available anywhere.
Rakuten acquires e-commerce app Slice, giving Rakuten the ability to analyse shoppers spending patterns and delivery choices to enhance the customer experience.
Rakuten acquires stake in AirAsia Japan, the new low cost carrier (LCC) owned by AirAsia, Asia’s biggest LCC. The move bolsters the company’s Rakuten Travel offering, one of the most popular travel services in Japan.
Rakuten funds next generation of internet start-ups
Rakuten Ventures launches a $100 million investment fund, targeting internet start-ups and companies in Israel, Asia Pacific, and the USA. The global fund builds on the success of Rakuten’s Southeast Asia fund, which was launched in 2013.
Rakuten makes more than $15 million of investments in 2014, including $10 million of funding for self-serve mobile advertising platform PocketMath and a Series A funding round worth $3.5 million for image recognition start-up Visenze. Rakuten Ventures also participated in seed round funding for file-sharing app Send Anywhere, and Algorithmia, a cloud marketplace for algorithms.
Rakuten continues to drive retail innovation
Rakuten opens the Rakuten Institute of Technology (RIT) in Paris, to support the development of the global e-commerce industry. The RIT is a dedicated research and development organisation within Rakuten, combining creativity and innovation with emerging technologies to fuel growth and innovation in e-commerce globally.
Rakuten launches Japan’s first money transfer service using Facebook, making it possible for Rakuten Bank app users to transfer money to their friends on Facebook. Users simply select the person they wish to send money to from their list of Facebook friends in the app, and input the amount they wish to transfer.
Rakuten opened the doors to its flagship “Rakuten CAFE” in Tokyo, to introduce the Rakuten Ecosystem to consumers in a new environment. Designed by renowned art director Kashiwa Sato, Rakuten CAFE, is an offline extension of Rakuten’s expansive suite of internet services and gives patrons the opportunity to try a variety of Rakuten services and merchant products in a café environment. Rakuten CAFE offers information to the public on everything from financial services to eReading, and online shopping. Kobo eReaders are located throughout the café for customers to freely use, in addition to complementary use of power sockets, mobile phone chargers, and 1GBPS Wifi.
Rakuten launches R-Point card service in Japan. Rakuten Super Points can now be used in brick-and-mortar stores. The R-Point Card is an offline extension of its wildly successful Rakuten Super Points loyalty programme, allowing members to use Rakuten Super Points in stores across Japan.