Ebates Inc., a subsidiary of Japanese internet services provider Rakuten Inc., on Feb. 26 sold its Chinese cash-back shopping business to cross-border shopping guide 55haitao.com for an undisclosed sum.
55haitao.com publishes Chinese language content to its members and promotes advertisers through so-called influencers on Chinese social media platforms, such as WeChat and Weibo. It has previously partnered with Rakuten Marketing to promote cross-border shopping by Chinese consumers on U.S. retail websites. With the recent deal, 55haitao.com said it now plans to offer the Ebates' in-store cash-back feature to Chinese tourists who visit the same merchants' brick-and-mortar stores in the U.S.
Meanwhile, Ebates CEO Amit Patel said the sale will free up resources for the company to focus on China "in a new way." It will also help expand Rakuten's range of merchant offerings as 55haitao.com promotes U.S.-based in-store shopping among Chinese tourists.
