Rakuten’s CEO And The Pinterest $50 million Bet
Rakuten, a Tokyo based online commerce company, is a site based on the idea of helping and raising merchants and not to compete with them. It is usually compared with Amazon. Many are of the opinion that this comparison is wrong; since Amazon runs on a rather different opinion.
The site offers more than what several other sites are offering. It joins up what you obtain in Amazon web service, eBay and Alibaba. It also has a wider and more global reach than all these other sites. The company was set up by Hirochi Mikitani.
Recently Mikitani invested a whopping $50million into Pinterest. This had been generating lots of publicity in recent times and it had brought Mikitani into the limelight. Pinterest is valued at $1.5 billion. Pinterest is a visual bookmarking and social website. Many investors would rather steer clear of such an investment; since they count it as a big risk. But Mikitani seems to have his reasons for taking the bet. There is a very strong rapport between Mikitani and the Pinterest founder and this made the deal possible.
Rakuten had been in existence since 1997. As at 2011, its revenue has hit $4.7 billion. It had been marketing itself through its flagship site ‘Rakuten Ichiba’. The site is expected to go even high by the end of the present year in terms of revenue. All online commerce market watchers are keeping their fingers crossed and waiting to see what will be the outcome of this deal.
Through his online commercial activities, Mikitani had grown to become one of the biggest money bags in Japan. He is also among the best entrepreneurs in the country. He had been nicknamed Mickey by associates. Many are of the opinion that he is less flashy than other entrepreneurs like Jeff Bezos and Richard Branson. But he is somewhat more resourceful than them.