Rakuten completes Fablic merger

06 Jul 2018

Japan’s biggest e-retailer Rakuten Inc. has announced that it’s completed its merger with Fablic Inc.. The wholly-owned subsidiary founded the c-to-c app Fril six years ago.

Rakuten announced its intention to consolidate its Fril and Rakuma marketplaces in February (we reported on it here). A formal announcement of the merger was made in March. At the time, the company reported that Fablic had recorded 987 million yen ($8.9 million U.S.) in sales for the financial year ended Dec. 31, 2017.

While there will be no change in procedures, both apps will undergo changes to their terms of service and privacy policies, according to a news statement.

Tokyo-based Fablic Inc. launched Fril in 2012. Rakuten — which had already introduced its own c-to-c marketplace app Rakuma in Japan (2014) and Taiwan (2016) — acquired Fablic Inc. four years later.

The consolidation will help the company compete with Japan’s leading flea market site Mercari.

 

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Tariq Ahmed Saeedi

Tariq Ahmed Saeedi writes stories on sharing economies in Asia – particularly Japan, Taiwan, Vietnam, Korea, Pakistan, Bangladesh and Iran. He joined the AIM Group in January 2016. Tariq is also a spotter, monitoring global marketplace industry’s updates. He carries more than 15 years of writing experience. Tariq frequently contributes economic/tech news and analysis to a daily The News International and a magazine. He has also written features and interview articles for various other publications and some of his write-ups have been cited for references in reports by the World Bank and archived in Florida Institute of Technology’s library. Tariq has also narrated corporate website content for Audi importer in Pakistan and others. He started his career from a television’s current affairs department in 2003 and later joined the country’s premier news agency Pakistan Press International.