Lockerz’s CEO Kathy Savitt said so far $36 million has been raised, but that the total amount should be final in the next 60 days.

The led investor is DAG Ventures, with Lockerz’s previous investors, Liberty Media and Liberty’s CEO, Greg Maffei, as well as Kleiner Perkins Caufield & Byers also participating.

New to the round is Live Nation Entertainment, which owns Ticketmaster. Already, Live Nation has started to work with Lockerz to sell concert tickets for Britney Spears, Rihanna, Blink-182 and others. Members of the Lockerz community can use points they earn to get discounts on those tickets.

Savitt, who started the company in 2009, said it has started to see some significant traction, clocking 46 million unique users a month, who spend an average of 17 minutes on the site, and with most of the users falling between the ages of 13 and 35.

With the round of funding, Savitt said they will be expanding the number of places users can redeem their points, making them more valuable. To date, they’ve only been used in Lockerz’s own shop, but going forward, she said, they can be used for concert tickets, like with Live Nation, but also in restaurants and retailers.

“The whole notion of points is to be a social loyalty currency that would reward engagement in a meaningful way. The first phase offered a limited number of prizes, and then discounts on merchandise, and now we are taking that next step to make it a true global currency, by making them redeemable all over — on Lockerz and off of Lockerz,” Savitt said. “We have a lot coming in the next 60 to 90 days.”

Members of Lockerz can earn points, technically called PTZ, in more than 10 ways, including uploading photos, answering polls, watching videos, listening to music, inviting friends, or just logging in. More information on how Lockerz works and its target demographic of Gen Z can be found in this interview with Savitt from February.

The money will also go toward future acquisitions. Earlier this year it acquired Plixi, a photo-sharing site, and more recently purchased AddToAny, a content sharing site, which will ultimately become Lockerz Share. Savitt said they have a third acquisition coming in the next few weeks in the social content space.

The company has about 65 employees, and previously raised $30 million in capital.

CNBC’s David Faber raised the question this morning at the tail end of a long interview with Liberty Media CEO Greg Maffei. And Maffei indicated that Liberty, the media empire controlled by billionaire investor John Malone, actually does have some interest in the Time Warner (TWX) unit, which is currently on track to be spun off as a separate company via an IPO.

Read the rest of this post on the original site

Don’t miss this most excellent article by Jessica E. Vascellaro in The Wall Street Journal this past weekend about the mogul-tussle–an Olympic sport!–between IAC/InterActiveCorp.’s Barry Diller and John Malone of Liberty Media (both pictured here).

It’s called: “Can This Marriage Be Saved?” And what are they fighting over? Control, of course, and big piles of money related to IAC (see revenue chart below)!

It’s always nice when two extravagantly colorful business icons take off the gloves so extravagantly in public and don’t shrink from controversy.

In the piece, the normally quippy Diller comes off almost calm, though, compared to the particularly obstreperous Malone, who is clearly trying to spur Diller into doing something rash by ranting in public.

My advice: Keep a lid on it, Barry!

In any case, some choice quotes from Malone:

“There was a time when there was, I think, a 20% Barry premium. Today you could argue there is a Barry discount.”

“The hook is set. It is our company. Barry ain’t going to be able to spit the hook.”

“Barry doesn’t use his balance sheet effectively. He is not a financial guy.”

“There is not quite as much love for Barry on average [at Liberty]. [Liberty CEO] Greg [Maffei] has made it clear that he isn’t as enchanted with Barry as I am.”

“It is a little uncomfortable for Barry. Right now we are the shadow that walks around behind him.”