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Rakuten enlarging footprint in online flea markets

Tokyo-based Fablic hosts flea markets through its app and in the real world.

TOKYO -- Struggling Japanese e-commerce giant Rakuten is acquiring a major flea market app operator to leverage a consumer-to-consumer platform popular among young women.

Rakuten will soon buy all shares in Tokyo-based Fablic from holders including management, turning the startup into a wholly owned subsidiary. The deal is estimated at billions of yen.

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