Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
Karmaloop and Skee will create a new destination for ‘Verge Culture’ shoppers.
Online apparel retailer Karmaloop.com is expanding the content and capacity of its Internet TV site—KarmaloopTV.com—through a new arrangement with a rival channel.
Karmaloop.com, No. 196 in the Internet Retailer Top 500, launched KarmaloopTV.com in 2008 as a broadband entertainment channel with e-commerce connectivity as a way to attract more technically savvy and digitally inclined young shoppers.
Now Karmaloop LLC has joined a marketing, e-commerce technology and content sharing arrangement with Skee.TV, a new media development and marketing company, to create a single Internet TV site with more music, fashion and entertainment video. The new site is designed to attract larger numbers of younger viewers and shoppers, the retailer says.
KarmaloopTV.com is particularly interested in attracting more shoppers from what it calls the “Verge Culture,” shoppers and viewers age 18 to 34 that are active users of the Internet, smartphones, and social media sites such as YouTube, Twitter and Facebook.
Under the terms of the arrangement, SkeeTV.com, which the company says has generated more than 200 million views on its web channel, and KarmaloopTV.com will merge their respective content and e-commerce capability to create a single Internet TV destination.
Karmaloop, which expects its e-commerce revenue in 2010 to increase about 66.7% to $100 million in 2010 from $60 million in 2009, will provide its “click and buy” technology, lifestyle content and West Coast production capability for the new destination. Skee.TV will provide its online advertising expertise and popular cultural content, including sports, lifestyle and music video. The new destination can be accessed at KarmaloopTV.com and Skee.TV
Skee.TV also has an in-house marketing and production company and has produced six widely watched and rated videos from artists such as Snoop Dogg, The Game, the New Boyz, Ice Cube and Travis Barker.
“With their grasp of what is groundbreaking in music and ours in the world of fashion and e-commerce, we are joining to create a one-stop destination not only for tech- and trend-savvy young people, but the many marketers who want to reach them,” says Karmaloop.com CEO Greg Selkoe.