Lockerz operates a social commerce network that rewards members with a proprietary points currency called PTZ, which can be redeemed for discounts in the Lockerz Store. The network is primarily targeted at users aged 13–30 and reports about 45 million monthly unique visitors. Members have spent nearly 3 billion PTZ for millions of dollars in savings on brands such as 7 for All Mankind, James Jeans, Xbox 360, Nintendo, SkullCandy, Canon, and Olympus. Lockerz emphasizes influencer-driven brand advocacy within its community and has acquired several companies including Chick Approved, Plixi, Off & Away, and AddToAny. Leadership changed recently when founder and CEO Kathy Savitt departed for Yahoo and former COO Mark Stabingas was appointed CEO; Savitt remains chairman. Lockerz operates a social commerce network where influencers and members share content, earn points and redeem discounts on the Lockerz Shop. The site targets 13–30-year-olds and reports about 45 million monthly unique visitors. Video is a major focus: Lockerz’s video offering generated nearly 400 million views in the past year and the platform maintains a library of thousands of music videos plus three original content series. The company has expanded via acquisitions to boost engagement, including Plixi and AddToAny, and has just acquired Vodpod’s personalized video curation platform (terms undisclosed), excluding Vodpod’s ShowYou app. Lockerz says Vodpod’s technology will let members create personalized channels pulling video from across the web and that members will earn Lockerz points for setting up those channels. Financially, the company is flush with a reported $45 million new funding round and says it will pursue additional acquisitions to fill gaps in its offerings. Lockerz operates a social commerce network that encourages influencers within its community to act as brand and content advocates. Members earn “Pointz” by watching videos, listening to music and inviting friends, and can use those points to lower merchandise prices; users also earn “Decalz” for sharing. New boutiques launch every Tuesday featuring brands such as 7 for All Mankind, Alex & Ani, Splendid, Rock & Republic, Quiksilver, Nintendo and Xbox 360. The service targets 13–30 year olds and aims to become the go-to commerce homepage for teens and young adults. Lockerz has grown rapidly from an initial 50 college users to roughly 17.5–18 million members in under two years and records just under 1 million unique visits per day (per Google Analytics). The company has raised outside capital, most recently from Kleiner Perkins’ sFund, and has senior investors on its board.

Total raised

$71M

Funding rounds

3

Latest round

Equity

Latest activity

Oct 2012