Lockerz.com, a US-based invitation-only social commerce site for people aged between 13 and 30, has raised an undisclosed amount of venture capital from venture capital firm Kleiner Perkins Caufield & Byers and Nasdaq-listed Liberty Media’s Interactive division. Liberty on its website said it owned 65% of Lockerz.
Last month, Liberty said it would hive off its Liberty Capital and Liberty Starz units that also own minority equity stakes in third parties, such as Time Warner, and leave Liberty Interactive as an asset-backed tracking stock with a focus on video and online commerce.
Greg Maffei, executive president of Liberty, said: "An asset-backed Liberty Interactive will provide better transparency on Liberty’s operating businesses, enable more efficient capital raising, and permit us to better pursue our strategic objectives, including acquisitions using stock. We also believe the split-off will be positive for the long-term credit outlook at Liberty Interactive."
Liberty Interactive owns minority stakes in travel website Expedia, health company Borba, retailer HSN, vacation company Interval International, and property lender Tree.com.