Exclusive-Flush with $45 million new funding in new funding, Kleiner-backed social commerce network Lockerz has acquired personalized video curation platform Vodpod and all related assets from parent company Remixation. This acquisition does not include Vodpod’s social video app, ShowYou. ShowYou will remain independent from Lockerz and was not acquired. Terms of the deal were not disclosed.
Vodpod allows users to create socialized, hand-crafted channels with anyone. Websites and users can easily pull and organize video into channels (and this feature will continue uninterrupted for publishers and users). VodPod originally launched as a YouTube competitor with some social bookmarking features. Then, VodPod decided to disable user-uploaded videos and to concentrate on its bookmarking functionality and launched a widget that allows bloggers to include their most recently bookmarked videos into their sites.
In 2007, VodPod launched an API that allowed sites to manage their video content, drawing from videos that they’d either bookmarked on VodPod or uploaded themselves. And in 2009, VodPod launched VodSpot to allow publishers to create dynamically updated, customized video portals that can aggregate video content, as well as pull in new bookmarked content.
As we’ve reported in the past, Lockerz revolves around the idea that influencers within a social network can become brand and content advocates and affect the behavior of their friends. The network, which says it is seeing 45 million monthly uniques, is primarily targeted towards men and women ages 13 to 30, attempting to build a community of trendsetters and tastemakers who love to shop, play and connect on the Web. Users can earn points and discounts on brands by sharing content on the site. Founded by Kathy Savitt, a former Amazon and American Eagle Outfitters exec; Lockerz eventually wants to be the go-to commerce homepage for teens and young adults.
Lockerz says the addition of Vodpod’s technology will allow Lockerz members to create personalized channels featuring video content from anywhere on the Web, including the Lockerz library of thousands of popular videos. Lockerz members will earn Lockerz points for setting up their own video (Vodpod) channels, which can be redeemed for discounts on fashion, entertainment and electronics brands sold on the Lockerz Shop.
Savitt says that Lockerz’ existing video offering is among the most popular activities on the site, generating nearly 400 million views in the past year. The library includes thousands of music videos from the likes of Katy Perry, Coldplay and Snoop Dogg, as well as three Lockerz original content series.
Lockerz has been making agressive moves in terms of acquiring companies to fill ‘holes’ in its own offerings and help increase user engagement. The company is also nearing closure on a $45 million funding round from DAG Ventures, Liberty Media. Kleiner Perkins and Live Nation. And Savitt says that the company will be making more acquisitions in the near future.