LightInTheBox Holding Co Ltd-ADR (NYSE:LITB) announced Tuesday that it has entered a strategic partnership with Baidu Dianxin, a fully-owned subsidiary of Baidu Inc (ADR) (NASDAQ:BIDU). LightInTheBox shares rallied more than 9% after the announcement while Baidu went up 1%. The deal will help the companies expand in global mobile markets.
Baidu Dianxin owns some very popular Android apps
Baidu Dianxin creates apps for Android devices. It is known for its power saving app DU Battery Saver, Baidu Mobile Security and DU Speed Booster. Its apps have clocked over 350 million downloads in China and 200 million outside China. LightInTheBox is an online retailer, selling gadgets, apparel, garden products and small accessories.