SEATTLE, Aug. 3, 2011 /PRNewswire/ -- Lockerz, a social
commerce company with more than 45 million unique visitors monthly,
today announced the investors in its approximately $36 million of Series C funding. The
financing includes DAG Ventures, as the lead investor, and Lockerz'
seed investors, Liberty Media and Liberty's CEO, Greg Maffei, as well as Kleiner Perkins Caufield & Byers, which led
Lockerz' B round. In addition, Live Nation Entertainment
(NYSE: LYV), the world's leading live entertainment and eCommerce
company, has made a strategic investment. Lockerz anticipates
completing its Series C round, an offering of up to $45 million, in the next 60 days.
"Lockerz is extremely pleased to have the continued support of
our early investors, as well as welcome DAG and Live Nation to the
Lockerz' family," said Kathy Savitt,
founder and CEO of Lockerz. "The funding will support
Lockerz' mission to be the homepage for Generation Z, which
includes our rapid membership growth and aggressive development of
innovative site features to engage and reward our members for what
they love to do online."
"As one of the largest and most social commerce sites in the
world, a major part of our strategy is to explore new avenues to
blend commerce and content in revolutionary ways," said
Nathan Hubbard, CEO of Ticketmaster,
a Live Nation Entertainment company. "Lockerz is paving
amazing new ground in this area and we're excited to be a part of
this latest round of funding."
Lockerz was built from the ground up to serve the needs of
Generation Z (ages 13 to 30). As the first generation of
"digital natives," this group is disrupting the way consumers
discover, share and shop. With millions of members in this
coveted demographic, the Lockerz platform offers advertisers,
partners, and users compelling opportunities to deliver and receive
targeted messages and offers.
Uniquely, Lockerz members are rewarded with PTZ® that can be
turned into discounts on great brands. PTZ are the discount
fuel of Lockerz -- the ultimate rewards program for Generation Z.
Lockerz Members can earn PTZ in more than 10 ways, including
uploading photos, answering "Dailies" (one-question polls) and
"Bonus" questions, watching videos, listening to music, inviting
friends, or just logging in. PTZ are then used to lower the
prices of merchandise in the Lockerz SHOP. The more PTZ a
member earns and decides to use, the larger the discount, which can
be up to 100%.
About Lockerz
Based in Seattle, Lockerz'
mission is to be the homepage for young men and women ages 13 to
30, building a community of more than 45 million monthly unique
visitors and tastemakers who love to shop, play and connect on the
Web. Lockerz rewards members for doing what they love online,
offering major discounts on the coolest fashions, electronics,
music and more. Members earn PTZ® (Points) by watching videos,
listening to music and inviting friends. Lockerz PTZ are then used
to lower the prices of merchandise at-will. Lockerz was founded by
former technology and retail executive Kathy Savitt, and is backed by Liberty Media
Corporation and Kleiner Perkins
Caufield & Byers. For more information about
Lockerz, please visit www.Lockerz.com.
About Live Nation Entertainment
Live Nation Entertainment is the world's leading live
entertainment and eCommerce company, comprised of four market
leaders: Ticketmaster.com, Live Nation Concerts, Front Line
Management Group and Live Nation Network. Ticketmaster.com is the
global event ticketing leader and one of the world's top five
eCommerce sites, with over 26 million monthly unique visitors. Live
Nation Concerts produces over 20,000 shows annually for more than
2,000 artists globally. Front Line is the world's top artist
management company, representing over 250 artists. These businesses
power Live Nation Network, the leading provider of entertainment
marketing solutions, enabling over 800 advertisers to tap into the
200 million consumers Live Nation delivers annually through its
live event and digital platforms. For additional information, visit
www.livenation.com/investors.
About DAG Ventures
DAG Ventures is a venture capital partnership investing in and
helping outstanding entrepreneurs create leading, long-term
companies across a range of markets. With roots from the 1980's in
cable TV, infrastructure, media, and wireless industries, the
partnership today is privileged to work with world-class
entrepreneurs as they build tomorrow's leaders in the information
technology, energy, and life science sectors.
About Kleiner Perkins Caufield
& Byers
Since its founding in 1972, Kleiner
Perkins Caufield & Byers has backed entrepreneurs in
over 600 ventures, including Amazon, Amyris, Bloom Energy,
Electronic Arts, Genentech, Google, Intuit, Netscape, Sun,
Symantec, and Zynga. KPCB portfolio companies employ more than
250,000 people. More than 150 of the firm's portfolio companies
have gone public. Many other ventures have achieved success through
mergers and acquisitions.
About Liberty Media Corporation
Liberty Media owns interests in a broad range of electronic
retailing, media, communications and entertainment businesses.
Those interests are attributed to three tracking stock groups: (1)
the Liberty Interactive group (Nasdaq: LINTA, LINTB), which
includes Liberty Media's interests in QVC, Provide Commerce,
Backcountry.com, Celebrate Interactive, Bodybuilding.com and
Expedia, (2) the Liberty Starz group (Nasdaq: LSTZA, LSTZB), which
includes Liberty Media's interest in Starz, LLC, and (3) the
Liberty Capital group (Nasdaq: LCAPA, LCAPB), which includes all
businesses, assets and liabilities not attributed to the
Interactive group or the Starz group, including its subsidiaries
the Atlanta National League Baseball Club, Inc., and TruePosition,
Inc., Liberty Media's interest in SIRIUS XM Radio, Inc., and
minority equity investments in Live Nation, Time Warner Inc. and
Viacom.
Contacts:
Eugene Oh, Lockerz
206.926.3520
eugene@lockerz.com
SOURCE Lockerz