Rakuten invests in Fanli.com
Print Edition
SHANGHAI-BASED online shopping rebate website Fanli.com yesterday said it has received US$100 million of financing from Japanese e-commerce giant Rakuten to fuel growth and bolster collaboration.
Fanli.com provides users with rewards of between 3 and 8 percent on each order that they place through the website’s promotion links.
The company plans to use the capital for potential investment or to acquire companies that could complement its business, said Ge Yongchang, CEO of Fanli.com.
“Rakuten has rich experience in the e-commerce sector in Japan as well as the US, and we plan to strengthen collaboration with overseas shopping websites as consumer appetite for overseas products rises,” Ge said in Shanghai.
Rakuten’s investment represents a little less than 10 percent of Fanli.com’s stake.
Fanli.com has about 70 million registered users.
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