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Amazon opened its tenth physical book store in 2017; [95] media speculation at the time suggested that Amazon planned to eventually roll out 300 to 400 bookstores around the country. [94] All of its locations were closed in 2022 along with other retail locations under the "Amazon 4-Star" brand.
The acquisition of Ebates, a website that allows customers to earn cash back when shopping online with over 2,600 retailers, gave Rakuten.com additional presence in the US e-commerce market, as well as a way to offer items such as online e-coupons. [22] [23] In March 2015, Rakuten.com partnered with Bitnet to accept bitcoin as payment. [24] [25]
Rakuten Rewards was founded as Ebates in 1998 in Menlo Park, California, by two former deputy district attorneys, Alessandro Isolani and Paul Wasserman. [5] Funded by the venture capital firm Foundation Capital, [6] Ebates.com was launched on 3 May 1999, offering up to 25% cash back from about 40 online retailers.
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The funds gained from the IPO allowed Amazon to grow quickly, making its first three acquisitions on April 27, 1998, less than a year after the company had gone public. [2] After the dot-com bubble burst on March 11, 2000, several companies that Amazon had invested in went bankrupt, with Amazon's stock price itself sinking to record lows. [3]
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