Leading e-commerce company Rakuten has completed the merger of its subsidiary Fablic.
Established in April 2012, Fablic is a consumer-to-consumer (C2C) e-commerce marketplace that offers fine-grained record linkage software through its FRIL mobile app, which has five million users.
Fablic offers fashion and beauty products with a focus on women, as well as a motorcycle flea market app called RIDE.
The deal was announced on 29 March in order to increase Rakuten’s operational efficiencies and enhance the quality of C2C services.
According to the company, the deal is an absorption-type merger of a wholly owned subsidiary and has proceeded without receiving approval of its shareholders.
Following the merger, Rakuten will not change significant company details such as the business name, head office or shareholder equity.
Rakuten acquired a 100% stake in Fablic in September 2016 and made the company as its wholly owned subsidiary.
Headquartered in Tokyo, Rakuten offers a wide range of services for consumers and businesses in e-commerce and other domains.
The company currently operates businesses across Asia, Europe, the US and Oceania, as well as employs 13,000 people worldwide.
In November 2014, Rakuten launched Rakuma, a C2C marketplace app for smartphones.