Tencent, Walmart Investing in Rakuten
Walmart is investing $153 million for 0.9% of Rakuten, the Japanese e-commerce company announced Friday. It's “in line with other recent strategic equity investments the company has made that enable Walmart to benefit from future growth in a rapidly changing…
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global retail environment,” said Walmart. Also planning to invest are Tencent (a 3.6% stake) and Japan Post Holdings (8.3%). Citing evolving “new lifestyles,” Rakuten said businesses that operate retail stores such as supermarkets are now “required to provide services that are more convenient for users, not only providing services online, but also transcending the boundaries between online and offline (real stores).”