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Japanese Commerce Giant Eyes US Market

  • Pymnts, Friday, August 15, 2014 11:14 AM

First it was China’s eCommerce megaretailer Alibaba coming to the U.S. to compete with Amazon and eBay. Now another Asian company looks poised to follow Alibaba’s lead, further helping an already strong U.S. online marketplace, where Internet sales exceeded $262 billion last year. Venturebeat.com reports that Japan’s largest online retailer, Rakuten, may soon enter the U.S. market. In June, the company launched a $100 million investment fund to focus on startups in the U.S., Israel and Asia Pacific region. The company recently acquired U.S.-based eCommerce app Slice, apparently in an attempt to expand its offerings domestically and compete against two of nation’s top eCommerce sites, Amazon and eBay. A year ago, it led a $23 million funding round for the company.

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