In 2012, it made a large investment in website Pinterest. Rakuten has acquired e-commerce providers from Brazil to Germany, as well as Toronto-based eReader business Kobo and online video providers of Spain and Viki of Singapore. Rakuten has been on an overseas buying spree in recent years as it seeks to expand outside its home market Japan, where economic growth remains sluggish. Skype was later picked up by Microsoft for $8.5 billion in cash. Ebay went on to write down the value of its investment by $1.4 billion. The newly announced deal mirrors Ebay’s acquisition of Skype for $3.1 billion (€2.19 billion) in 2005.
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