SINGAPORE: Japanese online retailer Rakuten Inc plans to close its early model e-commerce marketplaces in Singapore, Malaysia and Indonesia as part of the company's strategy overhaul.
The closure of the three markets will affect fewer than 150 employees in the region, Rakuten said in an email. "In SE Asia, as the market itself changes and adapts, we are looking toward C2C (customer to customer) and mobile business models for e-commerce and other businesses," Rakuten said.
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