Tuesday, September 9, 2014

Ebates Acquired By Rakuten For $1 Billion

San Francisco-based cash back rebate site eBates has been acquired by Rakuten, Rakuten announced Tuesday, in a deal worth $1 billion. Rakuten said that eBates had net revenue of $167.4M in its fiscal 2013, and has over 2.5 million active members using the service. Rakuten said it would use the buy to further develop its e-commerce platform. eBates is led by Kevin Johnson.