Kleiner Perkins, Liberty Media Back Lokerz

Lockerz.com, a Seattle-based invite-only social commerce site for the 13-30 demographic, has raised an undisclosed amount of venture capital from Kleiner Perkins Caufield & Byers and Liberty Media.

PRESS RELEASE

Lockerz.com™ ( http://www.lockerz.com ), a leading social commerce website for men and women 13-30, officially launched SHOP today in the U.S.  The invite-only lockerz.com began with just 50 US college and high school students in July 2009 and has grown virally to more than 15.5 million members in 195 countries in less than a year.

At lockerz.com, members get rewarded every day with Lockerz Pointz™ or “PTZ” for doing what they love most on the web including watching videos and music, shopping for the latest in fashion, gaming, electronics and sports gear and later this year, connecting with friends.  Currently, there are more than 12 ways for members to earn PTZ on Lockerz through engagement and connection with the website, and a dozen more planned over the coming months.

How SHOP works:

In Lockerz SHOP, members may redeem their PTZ for discounts up to 100% off any product for sale in SHOP’s weekly 10-12 brand boutiques.  Additionally, Lockerz  members earn hundreds of new PTZ for every purchase and receive free shipping on all orders over $100.

Members choose to use as many or as few PTZ as they’ve earned using Lockerz patent-pending PTZ slider.  The PTZ slider instantly calculates the discount — from 1% to 100% — off the full price of any item.  Lockerz members also have the option of saving their points and redeeming them for a limited number of free prizes every few weeks.

Lockerz SHOP sells a wide selection of premium global brands from apparel and jewelry to electronics, gaming and even gourmet food. To date, more than 150 brands have signed to market and sell their collections on Lockerz.  Early SHOP boutiques include:   Ben Sherman, Microsoft, Nintendo, Rock & Republic, Razor, Sony, and many others.

“Our Lockerz membership is at the center of every feature we develop and every brand or entertainment partner we elect to curate with them,” said Kathy Savitt, founder and CEO, who has been a senior executive at both American Eagle Outfitters and Amazon before starting the company.  “Our hope is to be the first and last place our members visit every day.”

Lockerz’ initial financing came from Liberty Media, one of the world’s largest media and Internet companies with holdings including QVC, Sirius/XM, Starz, LiveNation and Expedia, and from Liberty CEO Greg Maffei personally.

Lockerz PLAY, the site’s entertainment tab, launched in beta in March 2010 with a small, curated selection of 400 videos.  To date, Lockerz Play has hundreds more, and has served more than 180 million views of some of the web’s best-loved videos supported by  :15 and :30 pre-roll advertisements.  As with SHOP, members are rewarded for their engagement with PLAY as they earn PTZ the first time a video is watched to completion.  The company plans to launch games and music onto the Lockerz PLAY platform in the coming months.

Lockerz’ social network, CONNECT, will be launched in Fall 2010, allowing the millions of Lockerz community members to friend and communicate with one another and ultimately, monetize their good taste and curation of music, video, games and even product brands on the site.

Maffei, also Lockerz Chairman, notes, “Lockerz uniquely integrates content, community and commerce in a compelling way for consumers, brands and content providers.”

The company has also just completed its Series B finance round with leading Silicon Valley venture capital firm, Kleiner Perkins Caufield & Byers (KPCB).  According to Bing Gordon, partner at KPCB, “Lockerz offers (almost) everything web savvy young people desire: digital entertainment, cool friends and free stuff.  We believe that Kathy Savitt and her team at Lockerz will revolutionize social commerce.”

The Lockerz Board of Directors includes:

  • Greg Maffei, CEO, Liberty Media; former COO and co-President of Oracle; Chairman of 360networks; former CFO Microsoft.
  • John Doerr, KPCB partner who has backed the founders of Google, Amazon, Intuit, Compaq, Cypress, Macromedia and Symantec
  • Bing Gordon, KPCB partner, former Chief Creative Officer of  Electronic Arts
  • Rick Dalzell, former Chief Information Officer at Amazon and SVP at Walmart
  • Kathy Savitt, CEO of  Lockerz, LLC; former CMO of American Eagle Outfitters and VP at Amazon
  • Chad Hollingsworth, Director, Corporate Development, Liberty Media.

 

About Lockerz.com™ ( www.lockerz.com )

Founded in March 2009, the mission of Lockerz is to be the homepage of a new generation – Generation Z (ages 13-30). The invitation-only site combines video, shopping and social networking with a robust loyalty program that rewards members with Lockerz Pointz™ (PTZ), which can be redeemed for discounts on name-brand merchandise. Lockerz is a start-up company funded by Kleiner Perkins Caufield & Byers (KPCB), the Silicon Valley venture capital firm, and online media conglomerate Liberty Media. The company is headquartered in Seattle.