Rakuten in the company in August 2007 and, in 2010, it announced a joint venture with Baidu in China (Lekutian). In June 2011, Rakuten acquired Brazilian e-commerce firm Ikeda — since renamed Rakuten Brazil. In July, it bought German e-commerce start-up Tradoria and rebranded it Rakuten Deutschland, and in September UK online retailer and e-commerce marketplace Play.com for £25 million (almost $41 million), which was converted into the points-based loyalty program Rakuten.co.uk. In September 2011, Rakuten took a minority equity stake in Russian online retailer Ozon.ru, dubbed "Russia's Amazon", which had reported 2010 sales worth US$137 million. A four-company-strong consortium, led
Property retailer Property retailer In the U.K., a property retailer is an organisation marketing property for sale, but not offering Estate Agency services. Property Retailers are usually online based. Estate Agents in the UK are regulated by the Office of Fair Trading/The Property Ombudsman, and there is also legislation relating to property descriptions and procedures which must be adhered to. Estate Agent services include fielding enquiries on behalf of sellers, arranging appointments and viewings, and handling negotiations. The Office of Fair Trading state that some Property Retailers may also be acting as Estate Agents and could therefore be breaking the law relating