Lockerz allows its members to earn “PTZ” by sharing content and other activity on the site, which are then redeemed for discounts in the Lockerz store. Fashion, style, and beauty are the company’s fastest growing categories, says founder and CEO Kathy Savitt, and she describes this acquisition as a way to “really double down” in that area.
It sounds like Savitt is excited about getting access not just to Chick Approved’s audience (which she describes as “a really significant concentration of curatorial young women”), but also continuing its relationship to YouTube star Megan Parken, whose channel MeganHeartsMakeup currently has more than 450,000 subscribers and 84 million views. Parken will be joining the Lockerz Style Council and participate in its new Tastemakers program, where Khloe Kardashian and other big names share recommendations via Pinterest-style image collections. Parken will also be able to curate her own boutique store on the site.
The financial terms of the deal are not being disclosed. Savitt says Chick Approved members will now become Lockerz members. She also says Jeff Turnbull, one of Chick Approved’s founders, will be joining the company.
Lockerz investors include Kleiner Perkins Caufield & Byers, DAG Ventures, Liberty Media, and Live Nation.
Based in Seattle, Lockerz is the leader in rewarded social expression, striving to revolutionize the way the world discovers and consumes product and content. With a membership community of millions in 195 countries, Lockerz rewards its members with PTZ® (points) for engagement and following, including collecting, sharing, shopping and influencing their friends. Members use PTZ to drive down the prices of fashion, beauty, home decor, electronics and entertainment in the Lockerz Store. Lockerz was founded by former technology and...