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Rakuten is buying Viber
The Saudi Gazette Published in The Saudi Gazette on 15 - 02 - 2014


TOKYO — Rakuten Inc. is buying Cyprus-based Viber Media, which operates a popular Internet phone application, for $900 million. Rakuten founder and president Hiroshi Mikitani announced the deal Friday in Tokyo. It expands the online retailer's investment in social networking businesses. The Tokyo-based company said it sees Viber, with 280 million global users, as a key platform as people are moving from TVs and computers to mobile devices to consume and enjoy content. Rakuten, which faces competition from Amazon.com and Yahoo, has been successful with its online shopping mall, the biggest in Japan. But it is eager to expand in scope, as well as geographically to outside Japan. Rakuten already has under its wing online scrapbook site San Francisco-based Pinterest and Canadian e-book maker Kobo Inc. – AP

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