Rakuten Group is a Japanese group with historical roots in e-commerce. Based in Tokyo, it developed around Rakuten Ichiba, a marketplace that allows merchants to sell directly to consumers. Payment, banking, travel, communication and entertainment services have since been added to this business. Together, these activities aim to expand usage through a shared customer relationship, rather than relying solely on online purchases.
A marketplace that became a diversified group
Founded in 1997 by Hiroshi Mikitani, Rakuten distinguished itself from the outset with an approach focused on partner stores. Sellers have a space to showcase their products and build their commercial identity. The group provides them with technical, marketing and transaction tools in exchange for fees and commissions.
Acquisitions have played a notable role in its international expansion. In France, Rakuten acquired PriceMinister in 2010 before replacing that brand with its own in 2018. In the United States, the acquisition of Ebates strengthened its presence in cashback, which involves returning a portion of shoppers’ spending at partner merchants. Today, rakuten.com primarily represents this American offering, rather than serving as a single showcase for all the group’s global activities.
Commerce, finance and mobile networks
In Japan, Rakuten links its marketplace with services such as Rakuten Travel and a range of financial activities including credit cards, banking, brokerage and insurance. The Rakuten Points program connects several of these offerings: purchases and certain other activities allow users to earn points and then spend them on participating services. This mechanism supports customer loyalty and cross-selling.
The portfolio also includes digital reading through Kobo and messaging through Viber. This diversification gives the group multiple points of contact with consumers, but requires it to manage businesses with different economic and regulatory constraints. A marketplace, a bank and a communication platform require neither the same investments nor the same expertise.
Telecommunications is another strategic focus. Rakuten Mobile launched its commercial service on its own Japanese network in 2020, using a largely virtualized architecture. In parallel, Rakuten Symphony offers technologies and services for telecom operators, particularly in the areas of open networks and network automation.
What next?
For Rakuten, the challenge is to turn this diversity into profitable synergies. Mobile services require substantial investment and a customer base large enough to absorb those costs, while e-commerce continues to face strong competition. The group must also maintain trust in how data is used across services. Its trajectory will depend on its ability to improve the economics of its telecom businesses, maintain the appeal of its marketplaces and make its ecosystem useful without making it too complex for users.