Hiroshi Mikitani  Mikitani was born in 1965 and raised in Kobe, Hyōgo Prefecture, Japan. Mikitani attended Hitotsubashi University, graduating in 1988 with a commerce degree. His father, Ryoichi Mikitani, was an economist who was Japan's first Fulbright Scholar to the US and taught for two years at Yale University; during that time, from 1972 to 1974, the family lived in New Haven, Connecticut. His mother, Setsuko, went to elementary school in New York City, before returning to Kobe. After her graduation from Kobe University, she worked for a trading company. His sister Ikuko is a physician (MD in Osaka University). His brother Kenichi is a professor of biology at the University of Tokyo. His grandfather was a co-founder of Minolta. Mikitani worked at the Industrial Bank of Japan (now part of Mizuho Corporate Bank) from 1988 to 1996, with a break from 1991 to 1993 to attend Harvard Business School. He left to start his own consulting group, called Crimson Group. Mikitani has stated that the destruction caused by the devastating 1995 Kobe earthquake made him realize he wanted to help revitalize Japan’s economy, leading to his resignation from banking and decision to start his own business. In 1996, Mikitani began venturing into the high technology business and started looking at various business models, and decided to launch an online shopping mall. At the time, Netscape was around, Amazon.com had recently launched, and Google did not yet exist. On February 7, 1997, Mikitani founded the e-commerce company MDM, Inc. with three co-founders and US$250,000 of their own money, launching the online marketplace Rakuten Ichiba in Japan on May 1, 1997. The company was renamed Rakuten, Inc. in 1999, and Mikitani took it public on the JASDAQ in 2000. In founding the company, Mikitani envisioned an online marketplace focusing on the exchange between buyers and sellers, as a hybrid between eBay and Amazon.com. It started as a small online marketplace with 13 shops and 6 employees, and has since grown into "an e-commerce giant". In 2010, Mikitani changed Rakuten's focus, as the company began expanding outside Japan, with acquisitions of overseas e-commerce sites including Buy.com of the US (now Rakuten.com), PriceMinister of France, and continuing with companies including Canadian e-book service Kobo (now Rakuten Kobo), US cashback site Ebates (now Rakuten Rewards), and Cyprus-based messaging app Viber (now Rakuten Viber), and minority stakes in online scrapbooking site Pinterest and ride-hailing app Lyft (where Mikitani serves as a board member).