Japan’s e-commerce behemoth Rakuten officially ends its joint ventures in Indonesia with PT Media Global (MNC) for Rakuten Indonesia (PT Rakuten-MNC). After signing the agreement back in 2010 with 51% (Rakuten Japan) and 49% (MNC). This is the second time Rakuten terminates joint venture partnership after the dissolution of its China operations.
The rumor about the not-so-harmonious relationship between Rakuten and MNC has been spreading amongst industry players since last year but it’s not until today that the dissolution is officially announced by Rakuten Japan. No words from its Indonesian counterpart (MNC) so far about the joint venture termination.
Rakuten Indonesia, often dubbed Rakuten Belanja Online started their operations late 2010 not too long after the joint venture announcement. After launching their website for public March 2011, Rakuten started receiving negative comments from merchants but that didn’t stop them from executing their grand launching party June 2011.
MNC itself just announced a new joint venture with China’s biggest internet company Tencent early this year, bringing products such as WeChat into Indonesian market.
source: Nikkei Japan
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