Struggling e-commerce firm LightInTheBox completes $85M deal for Singapore’s Ezbuy

Southeast Asia is a growing digital marketplace and increasingly a focus for startups across the world, but there haven’t been many exits. So it’s notable, then, that struggling Chinese discount e-commerce service LightInTheBox has closed its acquisition of Singapore-based Ezbuy, which operates a cross-border selling service in Singapore, Malaysia, Indonesia, Thailand, and Pakistan. The all-stock deal was first announced in November and it sees LightInTheBox, which operates worldwide, take 100 percent ownership of the company for $85.55 million as it bids to turn its business around.LightInTheBox could certainly do with a boost. The company went public in 2013with its shares priced at $9.50, but it has spent most the last few months priced less than $1. As of today, the stock is worth $0.64, having been as high as $1.35 a month ago.