The C-series round values the Chinese online shopping company at approximately USD 1 billion. As part of this investment, Kevin H. Johnson, CEO of Ebates, a Rakuten Group company, will join Fanli’s board of directors.
Fanli is a rebate-based loyalty shopping program in China, offering the “Super Rebates” 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 an online shopper loyalty program in the US. Rakuten, which acquired Ebates in 2014, is an ecommerce site in Japan, which is expanding its global market service and cross-border shopping capabilities.
Rakuten provides a variety of products and services for consumers and businesses, with a focus on ecommerce, finance and digital content. Rakuten currently operates throughout Asia, Europe, the Americas and Oceania. Founded in 1997, Rakuten is headquartered in Tokyo.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now