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Want to know what you missed over the weekend and today? We got you covered.

1. Indonesia’s Buzzfeed, IDN Media has raised an undisclosed series A round

The new funds will go into developing video content, strengthening the branded content team, and building an automated ad platform that lets brands use the IDN Media sites as marketing channels. Read the rest of the story here.

 

2. Singapore’s crowdfunding firm, CoAssets lists in Australia

Singaporean crowdfunding platform CoAssets has listed on the Australian Securities Exchange (ASX), the company announced today. It raised $5 million under its public offering at a price of $0.30 per share. Read the rest of the story here.

 

3. Wal-Mart and Amazon will crush, but won’t kill the neighborhood store

Ever since Kmart and Wal-Mart made their appearance in the retail space, traditional stores couldn’t match these retail giants in scale, scope, logistics, advertising budgets, and ability to raise funds among investors anxious to capitalize on the trend. Read the rest of the story here.

 

4. Restaurant discovery and booking app Offpeak raised undisclosed funding round led by Yahoo Japan

Offpeak plans to double down on its current markets in Southeast Asia. Planned enhancements include better search, an updated user interface, intelligent restaurant recommendation features, seamless country selection, and more. Read the rest of the story here.

 

5. Rakuten acquires Japanese C2C fashion marketplace FRIL

The combined monthly GMS of the two companies’ services already exceed several billion yen. The addition of Fril will further accelerate Rakuten’s dominance of the C2C market in Japan. Read the rest of the story here.

Rakuten has acquired Fablic, provider of C2C marketplace app, Fril, reports Japan Today.

The undisclosed, 100% stake has made Rakuten the sole owner of the Japanese app. Japan is seeing an increase in popularity in C2C marketplace platforms that make it possible to buy and sell speedily and at predetermined prices, as well as a transition away from auction services that involve a bidding process.

Fril launched in 2012 as Japan’s first C2C marketplace mobile app, and has cumulative downloads of the app now exceeding 5 million. 

In November 2014, Rakuten also launched Rakuma, a C2C marketplace app for use mainly on smartphones, and this is also seeing a rapid expansion in gross merchandise sales. Rakuten in Japan has considerably been performing better than its Southeast Asian branches, as the company has shut down operations in Singapore, Indonesia and Malaysia.

The combined monthly GMS of the two companies’ services already exceed several billion yen. The addition of Fril will further accelerate Rakuten’s dominance of the C2C market in Japan.

Rakuten is currently planning to allow users to use their Rakuten member ID to log into Fril, and implement point campaigns utilizing Rakuten Super Points. These features are already integral to the Rakuma platform. This will contribute to enhanced convenience for Fril users and broaden Rakuten Group’s overall user base.

By exploring ways to collaborate and enhancing on each other’s strengths, the addition of Fril into Rakuen’s ecosystem should further innovate the C2C landscape in Japan.

A version of this appeared in Japan Today on September 5. Read the full version here.