China’s LightInTheBox to acquire Singapore ecommerce Ezbuy
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Chinese online retailer LightInTheBox will acquire Singaporean e-commerce platform Ezbuy for approximately US$86 million, subject to some closing conditions. Ezbuy, which has more than 3 million customers in Southeast Asia and Pakistan, has grown from a middleman service linking international consumers and Chinese e-retailers to become a more traditional online retailer in its own right. It secured US$17.6 million earlier this year, predominantly from Chinese investors.
LightInTheBox CEO Zhiping Qi said: “This transaction is part of our larger plan to build our business-to-consumer cross-border ecommerce out to scale globally,” citing Ezbuy’s supply chain management as potentially supporting the firm’s emerging markets strategy.
Questions & Answers
Q.What is the primary reason LightInTheBox is acquiring Ezbuy?
What is the primary reason LightInTheBox is acquiring Ezbuy?
LightInTheBox's CEO stated the acquisition is part of a larger plan to scale their business-to-consumer cross-border e-commerce globally. Ezbuy's supply chain management is expected to support LightInTheBox's emerging markets strategy.
Q.How much was Ezbuy valued at in its latest funding round?
How much was Ezbuy valued at in its latest funding round?
Ezbuy secured US$17.6 million earlier this year in a funding round. These funds predominantly came from Chinese investors, supporting its growth before the acquisition by LightInTheBox was announced.
Q.What is Ezbuy’s market reach before this acquisition?
What is Ezbuy’s market reach before this acquisition?
Ezbuy serves over 3 million customers across Southeast Asia and Pakistan. It began as a middleman for international consumers and Chinese e-retailers, but has since expanded into a traditional online retailer.
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