Japan-based Rakuten has taken a minority stake in Fanli.com, one of China's online rebate and rebate-based flash sale companies.
The C-series round values the Chinese online shopping company at approximately USD1 billion. As part of this investment, Kevin H. Johnson, CEO of Ebates, a Rakuten Group company, will join Fanli's board of directors. Rakuten's investment gives it less than a 10% stake.
Fanli is one of the largest rebate-based loyalty shopping programs in China and a pioneer in flash promotion service, a combination of cash back and flash sales for brands. Ebates, which operates Chinese cross-border loyalty shopping sites Ebates.cn and Extrabux.com, is one of the largest online shopper loyalty programs in the United States. Rakuten, which acquired Ebates in 2014, is the largest e-commerce site in Japan and is rapidly expanding its global market service and cross-border shopping capabilities.
Fanli is headquartered in Shanghai and claims over 70 million members.
MANILA, Philippines — The Ateneo de Manila University on Friday asked its community and the…
GTA 6 fans are completely split in speculative discussion about whether they'd rather see the…
The 33-year-old announced this week he would leave Irish rugby just a year out from…
SINGAPORE – The mercury fell to a record low in 2026 on June 12, offering…
Life inside the palace was a mix of confinement and royal pampering, but Mohan was…
The Caribbean undeniably gave rum its global identity, but excellence is no longer limited to…