Rakuten Acquires Spanish VOD Company Wuaki.tv
Japanese e-commerce company Rakuten has acquired Wuaki.tv, which is known as the “Netflix of Spain.” Wuaki.tv can stream video on demand. This is Rakuten’s fourth European acquisition in two years and it is their first entry into the Spanish market. Wuaki.tv was founded in 2009 and they are based in Barcelona. Wuaki.tv offers their users premium content over the Internet streamed directly to “Smart TVs.”
Wuaki.tv has existing content distribution agreements with Hollywood studios as well as local studios. The company also has partnership agreements with TV manufacturers to incorporate their technology into TV sets. The terms of the acquisition were undisclosed.
Wuaki.tv has raised an undisclosed amount of funding from Bonsai Capital and Axon Capital. Another one of their investors was Marc Ingla, a businessman that former VP of football club Futbol Club Barcelona.
Rakuten is known for buying companies like Buy.com, Play.com, PriceMinister, Ikeda, Tradoria, and Kobo. They have interested in companies like AHAlife.com, OZON, and Pinterest.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry