LightInTheBox to buy VC-backed e-commerce player Ador

LightInTheBox said in a regulatory filing that the Ador team will represent its first permanent office in the US. Ador co-CEOs Mark Stabingas and Quinten Shay - both of whom previously worked for Amazon - will become LightInTheBox's president and senior Vice President, respectively. LightInTheBox co-founders Kevin Wen and Liang Zhang will both become executive vice presidents.

Ador was originally known as Lockerz, a social networking and photo-sharing service that received funding from KPCB, DAG Ventures, Liberty Media Corporation and Live Nation Entertainment.

In October 2013 it rebranded as Ador and launched a digital magazine, which connects users with affiliate sites that sell the clothes and accessories featured. Ador receives a percentage of each sale. Members collect loyalty points in return for engaging with the Ador community and these can be used to reduce the prices of items purchased.

LightInTheBox went public on the New York Stock Exchange in June 2013, raising $79 million through its IPO. Ahead of the listing Ceyuan Ventures held 26.4% of the company, while GSR Ventures and Trustbridge Partners owned 20.6% and 6.8%, respectively. None of the VC investors sold shares in the IPO, although their holdings were diluted due to new shares issued.

Among China-based retail websites that source products from third-party manufacturers, LightInTheBox claims to be the largest in terms of revenue generated outside of China.

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• Topics
• Exits
• Greater China
• Venture
• Consumer
• Technology
• TMT
• China
• USA
• Venture
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• Ceyuan Funds
• GSR Ventures
• Trustbridge