In Japan, Yahoo is operating in partnership with SoftBank that named as the Yahoo Japan Company. The management board of company had a meeting, and they were authorized to purchase Ikyu, which is Japan’s leading travel and restaurant reservations initiative.
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Yahoo Japan offered for Ikyu 3 Thousand 433 Japanese yen ( approx. 28 Dollars) per lot. It shows that Yahoo Japan will pay more than 100 million Japanese Yen for Ikyu according to the calculation based on the last lot price.This amount is equivalent to $ 829 million dollars.
The company founded in 1998, Ikyu has emerged initially as an initiative that allows hotel booking in Japan. At the end of 2006, Ikyu added the restaurant reservation service, and now it has more than 4 million users. Moreover, Ikyu not only operates in Japan but also allows hotel booking in overseas countries. One of the Ikyu’s founder and largest shareholder Masabumi Mori said that we were already in a synergy with Yahoo Japan. After the purchase was completed, Ikyu will try to increase the strength in the market, and they aim to enter new verticals like luxury services for rich people.