Rakuten is shuttering the online shop formerly known as Buy.com – TechCrunch

Rakuten is shuttering the online shop formerly known as Buy.com – TechCrunch

Japanese party rockets The company confirmed to TechCrunch that it has pulled the plug on its US online retail store, originally known as Bye.com, and will close its operations in the next two months. According to sources familiar with the development, the shutdown means that US headquarters will also lay off its staff, meaning 87 people will lose their jobs.

“We have decided to close the US Rocket Marketplace,” a company representative said in an email to TechCrunch. However, he clarified that the company “Cashback Rewards” referral business that the company runs on Rakotin.com (regularly Abbots, which it bought in B1B in 2014) is definitely not closing. And stronger than ever. “

Rakotin bought Buy.com on 250.com in 2010 in an effort to expand its retail business outside of its stronghold of Japan. Unfortunately, the evolving market, the aggressive growth (and targeting of competitors) in Amazon, and possibly the re-naming of a once-famous place under the name Rakutin, have all led to a decline in business. The original CEO and COO were left in 2012.

Users of the Rocket US store will be able to place orders for the next two months, after which the site will be completely shuttered. Rewards and commissions should not make a big difference to the customers of the business, and other businesses (such as Kobo e-Reading Division) should not be affected.

This is a shock to Rakuten, but hardly anyone is surprised. The company has diversified and invested in many business and vertical projects around the world (even launching a cryptocoin), so the failure of such a market, while unfortunately (especially for those), their Will not affect below. More line at this point.

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