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18Feb2016

PriceMinister  : Japanese graft did not catch

  • By Mike
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The announcement struck the of Parisian start-up microcosm . Rakuten revealed on Friday, February 12, to have divided by almost three the value of its subsidiary PriceMiniste. This website and Marketplace of online sales which it repurchased in 2010 for an amount of 200 million euros. “They are not best news”, its president, Olivier Mathiot agrees. From now on, the company is worth nothing any more but 70 million euros approximately in the accounts of the Japanese group. Hiroshi Mikitani, founder and chairman of Rakuten, had bought it for the equivalent of five times his turnover (39.9 million euros in 2009).
But times change. Created in 2000, the PriceMinister “rising star” does not have today any more the potential praised so much at the time of its sale by Pierre Kosciusko-Morizet, co-founder of the sign, with Olivier Mathiot, Justin Ziegler, Pierre Krings and Nathalie Gaveau. The French market of E-commerce became a bow net. More than 180,000 sites get a move on there, according to the figures of the Federation of the companies of distance selling (Fevad). At the end of 2016, they should be 200,000. And all rub with a slowed down growth: the market should display “only” 10% of growth in 2016, according to Fevad, after + 13,5% in 2015.
Rakuten in an official statement summarizes : “The French market is more competing”.

Learn more:
Le Monde | 17.02.2016 at 11:40 |By Juliette Garnier
http://www.lemonde.fr/economie/article/2016/02/17/priceminister-la-greffe-japonaise-n-a-pas-pris_4866838_3234.html

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