Lockerz, Though Not Quite Dead, Raises $9 Million to Shift Focus to New Shopping Site Ador
Now, a new filing with the SEC published online today sheds more light.
Lockerz has rebranded its corporate name to Ador, and has raised $9 million of a possible $25 million round, the filing said.
Despite the document’s wording, Lockerz.com is still operational. In an interview, Q Shay, who identified himself as Ador’s chief operating officer, said that the company had considered shutting Lockerz.com completely, but that it currently has enough repeat visitors to justify keeping it up and running.
At the same time, the vast majority of spending will be invested into Ador.com going forward, not Lockerz, he said. Shay described the funding as a rights offering to its existing shareholders, which have included Kleiner Perkins and DAG Ventures.
The Ador site pulls in images of celebrities and models from fashion blogs and then surfaces either the exact clothes and accessories worn in the photos or ones similar to them. Ador users can then click through to the site where the product is sold to purchase the item, with Ador getting a cut through affiliate networks.
The service joins a crowded field of startups focused on creating a browsable shopping experience for the digital age.
“In our case, we are taking a far different approach and really focusing on a specific audience … those primarily interested in fashion,” said product chief Max Ciccotosto.
Shay acknowledged that there were layoffs earlier this year, but said the company has been hiring recently as it readied for Ador’s public launch earlier this month. He declined to disclose the current size of the staff.
At one time, Lockerz was one of Seattle’s biggest startup names, having raised more than $40 million for a service that gave users rewards points for taking actions such as uploading photos or watching videos. They could then use those points for discounts on clothing.
The startup also operated a photo-sharing service that drove significant traffic to Lockerz.com, but it shut down its API earlier this year, citing Twitter policy changes.
Lockerz’s founder and former CEO Kathy Savitt left the Seattle-based startup last year to become Yahoo’s chief marketing officer.