Rakuten, Inc. is a Japanese electronic commerce and online retail company that has evolved into a diverse and global conglomerate offering a wide range of services. Here is a brief history of Rakuten
Early Years
Hiroshi Mikitani founded Rakuten on February 7, 1997. In Japanese, the name “Rakuten” means “optimism.” Mikitani set out to establish an online marketplace that would give consumers and businesses more control.Marketplace online (1997-2000): Rakuten began as an online marketplace for third-party sellers to list their goods, similar to eBay. Because it made it possible for small businesses to reach a wider audience, the company quickly gained popularity in Japan.
Expansion and Diversification:
Globalization in the 2000s: To establish a global presence, Rakuten expanded internationally through strategic acquisitions. Buy.com (USA), Play.com (UK), and Tradoria (Germany) were among the most important acquisitions.
Change from the 2000s to the 2010s: Rakuten expanded its offerings beyond e-commerce over the years. The company expanded into travel, finance, telecommunications, media, and other industries. Some of the most prominent subsidiaries that contributed to this diversification include Rakuten Credit Network, Rakuten Mobile, Rakuten Ichiba, and Rakuten Travel.
Financial Services
Purchasing Ebates in 2014: Rakuten bought the US-based cashback and shopping rewards company Ebates in 2014. Rakuten’s position in the global e-commerce market was strengthened by this move.
Rakuten Securities and Rakuten Bank (2000-2010): With the establishment of Rakuten Securities and Rakuten Bank, which provided brokerage and banking services, Rakuten entered the financial services market.
Technological Innovation:
Viber from Rakuten (2014): Rakuten’s presence in the digital communication sector grew as a result of its acquisition of Viber, a well-known messaging and calling app.
2001: Rakuten Institute of Technology The Rakuten Institute of Technology was established by Rakuten to encourage innovation within the company by investing in technological research and development.
Rakuten Today
Rakuten continued to expand and evolve in response to the shifting e-commerce and technology landscape as of my most recent knowledge update in January 2022. Offering a wide range of services, including e-commerce, fintech, digital content, and communications, the company remained a major player in the global market.
Future of Rakuten’s Mobile Network: With the implementation of a fully virtualized and cloud-native mobile network, Rakuten Mobile, the company’s telecommunications arm, led the mobile network industry, particularly in Japan.
The transformation of Rakuten from a domestic online marketplace into a global conglomerate with a strong presence in a variety of industries is a feature of the company’s history. The key to the company’s ongoing success has been its dedication to innovation and embracing new technologies. Keep in mind that since my last update in January 2022, there may have been changes.
Despite only having a gross transaction value of 36 billion yen, Rakuten announces an ambitious goal of 1 trillion yen for its gross transaction value. The goal was met in the fourth quarter of FY2006.) Rakuten Ichiba launches a “pay-as-you-go program” and Rakuten Points service to build a stronger relationship with merchants. Five years after its launch, Rakuten Ichiba welcomes its 6,000th registered merchant. The Rakuten Group makes a lot of money when credit card and e-commerce services work together.
Rakuten announces its vision for a “Rakuten Ecosystem” that encourages users to enjoy multiple services offered by the Rakuten Group, a one-of-a-kind member-based business model. Rakuten acquires U.S.-based LinkShare Corporation (currently Rakuten Marketing LLC dba Rakuten Advertising).
I am excited to discuss the ambitious goal of Rakuten Group to achieve a gross transaction value of one trillion yen. As a main player in the worldwide online business scene, Rakuten has reliably exhibited development and key ability.
Rakuten’s commitment to growth and excellence is reflected in this ambitious goal. The company has set the standard for the sector with its extensive portfolio of services, which includes financial services, digital content, and e-commerce. Rakuten’s determination to set new standards in the world of online transactions is exemplified by this goal of 1 trillion yen in gross transaction value.
In addition to demonstrating its financial success, Rakuten’s journey to this point is a testament to the trust and engagement it has cultivated with its partners and users. Rakuten is poised to have a significant impact on the global e-commerce landscape by continuously expanding its offerings, exploring new markets, and utilizing cutting-edge technologies.
In addition to its financial success, the company’s commitment to customer satisfaction, innovation, and positive community impact are also taken into account. The vision of Rakuten goes beyond transactions; It promotes sustainability, diversity, and positive social impact through a holistic approach to business.
It is evident that Rakuten is committed to shaping a future in which e-commerce is synonymous with innovation, inclusivity, and unparalleled user experience as we observe the company’s pursuit of this monumental objective. In addition to envisioning financial milestones, the company is also dedicated to shaping this future.
As Rakuten continues to shape the future of e-commerce and leaves an indelible mark on the global business landscape, we look forward to celebrating its accomplishments.
a multinational online retailer with a wide range of services.
One Trillion Yuan: Gross transaction value target that is ambitious and indicates significant growth.
Expansion of e-commerce: The strategic plan that Rakuten has for expanding its global online marketplace presence.
Innovation: dedication to developing cutting-edge e-commerce technologies and solutions.
Diversification: Rakuten’s presence in finance, digital content, and telecommunications, in addition to e-commerce.
Strategic Expansion: a deliberate and calculated strategy for dominating the market and achieving financial milestones.
Impact on the World: The impact of Rakuten on the global e-commerce landscape.
Customer Loyalty: establishing and maintaining trust with partners and users is essential to success.
Impact on Society: a comprehensive strategy that places an emphasis on positive contributions to society, such as diversity and sustainability.
Experience for Users: Providing customers with seamless and satisfying experiences in all aspects of their interactions with Rakuten is a priority.
The forefront of AI: Conference on Rakuten Technology in 2023
The Rakuten Technology Conference 2023 brought together technology luminaries, engineers, researchers, and enthusiasts from all over the world to Rakuten’s Tokyo headquarters to discuss the transformative potential of artificial intelligence (AI) and the possibilities for the future of technology.
The event, which had the theme “AI-nization,” had three concurrent tracks of speaker sessions, a Kids Park for families, and a total of 19 different sessions throughout the day. However, the conference wasn’t just held in Tokyo; Rakuten offices around the world also held their own events with content and sessions tailored to their respective countries.
All about AI At the 15th Rakuten Technology Conference, AI-focused sessions were held on a variety of intriguing topics, including “Sustainable Computing in the AI Era” and “Security in the Age of AI.” These sessions featured an impressive speaker list that included Ampere Computing Chief Evangelist & Vice President of Business Development Sean Varley, Google Cloud Director of Product Management and Customer Activation Erwan Menard, and others.
Generative AI’s potential to revolutionize tech fields like cloud computing, e-commerce, fintech, and mobile technology was also the subject of a number of the event’s discussions and presentations, which demonstrated the symbiotic relationship between Generative AI and the future of technology.
