Friday, July 31, 2020

Rakuten To Shut Down Former Buy.com Operations

Rakuten is planning to shut its U.S. retail efforts--formerly known as Buy.comaccording to a report, citing a "source familiar with the developments". Buy.com was founded in Aliso Viejo, and acquired by Buy.com in 2010 for $250M. According to the report, Rakuten will lay off 87 people at its U.S. headquarters. Rakuten had moved its operations to Silicon Valley back in 2017, when it had cut all 73 of the employees at its Aliso Viejo offices. Buy.com offered up a variety of online goods through its marketplace, mostly offering as an aggregator for third party products.