Tokyo-based Rakuten Inc has earmarked THB100 million (USD3.1m) for expansion of its e-commerce business in Thailand over the next three years.
The move comes after its Tarad.com e-marketplace showed rapid growth since 2010 after Rakuten paid USD43.4 million in 2009 to acquire 67 percent of Thailand’s Tarad Co, owner of Tarad.com.
Pawoot Pongvitayapanu, founder and managing director of Rakuten Tarad.com, said the company planned to connect its local site to its global Rakuten platform comprising e-commerce websites in 15 countries and territories, mainly in East and Southeast Asia and including Taiwan, Malaysia, Indonesia, Singapore and Hong Kong.
(Source: Bangkok Post)