been a significant shareholder in Ctrip, a Chinese travel site until it sold its stake 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 by the Japanese group, invested US$100 million. Rakuten's stake was not revealed. Rakuten announced an agreement to buy Canadian e-book reader company Kobo from Indigo Books and Music, operated by Heather Reisman (founder, Chair and CEO), in November, with the deal finalized in January 2012. The price was said to be US$315 million. In July 2012, Rakuten led a $100 million investment in Pinterest, at a $1.5 billion valuation. Its partners were existing investors Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital, and a number of investment “angels”. That investment marked the start of a drive to expand Pinterest's presence in Japan and Rakuten's 17 other global markets. On 13 June 2012, Rakuten bought Wuaki.tv, a Spanish video on demand (VOD) service/company that is one of the largest in Europe and the market leader in Spain; as of July 2017, it has 5 million users across 12 markets in Europe. The purchase opened new opportunities, directly challenging Amazon, Netflix and others for domination of the VOD market, starting in Europe. In July 2017, wuaki.tv was rebranded to Rakuten TV. In November 2012, Rakuten bought French online retail delivery company Alpha Direct Services, to increase speed and quality of delivery. On 10 October 2012, Rakuten acquired French electronic publishing company Aquafadas via its Kobo subsidiary to strengthen its position in rich media categories. In November 2020, the subsidiary was rebranded as Rakuten DX. In May 2013, Rakuten acquired a majority share in "citizen commerce" site Daily Grommet, since rebranded as The Grommet. In June 2013, Rakuten announced its acquisition of U.S.-based logistics and services company Webgistix, specializing in fulfillment technology for e-commerce retailers. The acquisition was Rakuten's second logistics investment outside Japan and enables prompt fulfillment