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In 2011, Free Shipping Day became a billion-dollar shopping holiday with $1.072 billion in sales, followed by $1.01 billion during Free Shipping Day 2012. In 2013, Knowles changed the format of Free Shipping Day to only include merchants that could waive all minimum order requirements and guarantee delivery by Christmas Eve.
As of September 2014, eBay has acquired over 40 companies, the most expensive of which was the purchase of Skype, a Voice over Internet Protocol company, for US$ 2.6 billion in cash plus up to an additional US$1.5 billion if certain performance goals were met. [2] The majority of companies acquired by eBay are based in the United States.
The acquisition of Ebates, a website that allows customers to earn cash back when shopping online with over 2,600 retailers, gave Rakuten.com additional presence in the US e-commerce market, as well as a way to offer items such as online e-coupons. [22] [23] In March 2015, Rakuten.com partnered with Bitnet to accept bitcoin as payment. [24] [25]
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Internet vendors benefit from a simplified sales model as compared to traditional brick-and-mortar stores. By storing goods remotely at a warehouse location and shipping goods directly to a consumer, significant transportation needs are eliminated both on the part of the vendor (shipping goods to stores) and by the consumer (traveling to stores).
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