Rakuten, the earliest and largest business-to-business-to-customer e-commerce platform, has benefited from the structural shift from offline to online shopping in Japan.
Rakuten’s business model of combining e-commerce and fintech has helped the company build up a network effect, with about 18 million quarterly active buyers at Rakuten Ichiba and 16 million Rakuten Card holders. The company has been building up a one-stop platform--not only for shopping, but also for financial services…
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