June 07, 2013
Congratulations are in order for LightInTheBox, which just became the first Chinese company to hold its IPO in the U.S. this year.
On its first day of trading on the New York Stock Exchange, LightInTheBox (ticker: LITB) shares rose 22% to $11.61, raising a total of $79 million. The strong opening of LightInTheBox also gave a boost to shares of other Chinese tech stocks. Online retailer Vipshop saw a 3% increase to $29.46, and search giant BaI Baidu increased 3.9% to $4.15.
Founded in 2007, LightInTheBox is a global sourcing platform that sells goods from Chinese suppliers to retailers. The company has 2.5 million users and earned $200 million in net revenues last year. We’re proud to be managing the affiliate program for this fast-growing company. The LightInTheBox site has expanded to reach more than 80% of global Internet users. LightInTheBox.com has been made available in more than 17 languages as it continues to expand its marketshare.
LightInTheBox.com is a leading e-tailer specializing in blue-ribbon consumer goods. If you’re not already a LightInTheBox affiliate, you can apply to join today at schaafpc.com.