The web-only e-retailer of home furnishings has been on a fast growth trajectory, with web sales reaching $1 billion in 2013. Wayfair has raised ...
E-commerce operator Lockerz.com buys an online video company
The acquisition of Vodpod will enable Lockerz members to curate and share videos.
Lockerz.com, an e-commerce and advertising site operator, said today it had bought Vodpod.com, which enables web sites to create video channel offerings. Lockerz.com did not say how much it paid Vodpod owner Remixation Inc. for the acquisition.
Liberty Media Corp., No. 8 in the Internet Retailer Top 500 Guide, owns 43% of Lockerz through Liberty subsidiary Liberty Interactive. Lockerz.com is an invitation-only site that offers social networking, games, music and videos, and which focuses on consumers aged 13 to 30.
Vodpod’s technology will help Lockerz members create personalized video channels, Lockerz says. Its 45 million monthly unique visitors earn reward points for watching videos, listening to music, taking part in polls and bringing friends to the site. Lockerz visitors will earn reward points for setting up their own video channels.
“Lockerz is building the leading platform to reward social expression, and our members are passionate about their favorite videos,” says Kathy Savitt, founder and CEO of Lockerz. “Lockerz members curate their entire world, from music to fashion to video clips, and we are excited to offer them the ability to get rewarded for sharing what they love.”
The acquisition follows the August announcement by Lockerz that it had raised $36 million in the company’s third funding round.