SHANGHAI--(BUSINESS WIRE)--55haitao.com, China’s largest cross-border shopping guide, announced today the acquisition of the Chinese operations of Ebates Inc., a leader and pioneer in cash back shopping, and subsidiary of global Internet services company Rakuten, Inc.
The acquisition further strengthens 55haitao.com’s offering in China. 55haitao.com’s mobile apps simplify cross-border shopping while promoting advertisers through influencers on Chinese social media platforms, such as WeChat and Weibo. Combining these resources with the Ebates China platform and member base will help advertisers worldwide reach Chinese consumers more efficiently. “Whether traveling internationally or shopping cross-border from home, Chinese consumers’ purchasing power shows no sign of slowing down,” said Alan Gu, founder and CEO of 55haitao.com.
“As a competitor, Ebates has always motivated and inspired our team, and now there are more opportunities for collaboration with Ebates and Rakuten,” Gu continued. Since its founding in 2011, 55haitao.com has partnered with Rakuten Marketing to promote cross-border shopping by Chinese consumers on US retail websites. Now, 55haitao.com plans to offer the Ebates in-store cash back offering to Chinese tourists visiting the US for shopping in those same merchants’ brick and mortar stores.
“The sale of our Chinese cash back shopping business to 55haitao frees up resources for us to focus on China in a new way,” said Amit Patel, CEO of Ebates Inc. “Working with local Chinese publishers such as 55haitao.com to promote US-based in-store shopping by Chinese tourists will further expand Rakuten’s already broad range of merchant offerings,” continued Patel.
“We anticipate that the acquisition and planned future collaboration with Rakuten will bring greater opportunities for Chinese shoppers to save money no matter where they shop in the world,” concluded Gu.
55haitao is China's largest forum and shopping guide for Chinese cross-border shoppers. Founded by Alan Gu, the website creates and publishes unique Chinese language content to more than 5 million members in China. With 90% of its traffic originating from China, 55haitao helps retailers worldwide easily reach the Chinese market. The 55haitao family also includes Linkhaitao.com, a subnetwork of cross-border publishers, and recently launched Shoplooks.com, a global network of Chinese language social influencers on Weibo, WeChat, and YouTube.