Los Angeles
– Online retail site Buy.com has been sold to Japanese e-tailer Rakuten by
private equity firm Clearlake Capital Group for $250 million.
Founded in 1997, Buy.com went public in 2000, and now counts
14 million customers.
Rakuten operates Japan’s largest
Internet shopping mall, offering over 50 million products from 33,000
merchants.
The company plans to expand its online retail marketplace into North
America and Europe.
The two companies’
combined services will offer more than 60 million products from 35,000 merchants
around the globe.
Related Links:
http://www.buy.com
