Liberty Media-backed e-commerce business Lockerz is reportedly on course to raising $45m from a diverse group of investors including the owner of Ticketmaster, a bookings website.
Lockerz was set to raise the funds in the next 60 days, news provider All Things Digital said, citing chief executive Kathy Savitt.
Lockerz borrows techniques from social media to sell items to teenagers, providing discounts in exchange for information on users’ tastes.
The round would see Live Nation Entertainment, which owns Ticketmaster, join the investor syndicate, All Things Digital said.
DAG Ventures is leading the round, while existing investors Liberty Media and Liberty’s CEO, Greg Maffei, and venture firm Kleiner Perkins Caufield & Byers are also participating.
In April, Liberty Media said on its website it owned 65% of Lockerz, and this has fallen to 41% today.
In July last year, Lockerz raised an undisclosed amount of venture capital from venture capital firm Kleiner Perkins Caufield & Byers and Nasdaq-listed Liberty Media’s Interactive division.
Lockerz has raised $36m now, All Things Digital said, compared to $30m in April, according to a Securities and Exchange Commission filing. A Lockerz spokesman said the company has raised $66m in total.