Japanese e-commerce giant Rakuten Inc has sold its entire shareholding stake in Tarad.com to Thai-owned web host Porar Web Application for an undisclosed sum.
Seven years after establishing its presence in Thailand’s biggest e-commerce company, Rakuten sold the 67 percent stake it purchased for USD3.35 million in 2009.
The divestment is part of Rakuten’s strategic Southeast Asian overhaul designed to focus on consumer-to-consumer and mobile business for e-commerce. The deal was signed last Thursday.
(Source: Bangkok Post)