Social commerce website Lockerz has shut down its San Diego, California, office and cut about 30pc of staff from its head office in Seattle headquarters in an effort to streamline its operations.
Chief marketing officer Leilani Augustine confirmed the cuts to TechCrunch, saying, “Today we went through the process of realigning our organisational structure to best fit the needs of our product and business as we move forward. That means that some positions were eliminated and we will be increasing our investment in other areas we see as opportunity.”
Augustine did not disclose how many staff have been cut, but it has been reported that only two of the 10 people employed in San Diego will remain with the company, though they will now work remotely, and that the Seattle office of about 40 people has been cut back by about 30pc.
According to CrunchBase, the company has raised more than US$43.5m in funding since its founding in 2009 and lists Kleiner Perkins Caufield & Byers, DAG Ventures and Live Nation among its investors. Lockerz has also made its fair share of acquisitions, including online fashion community Chick Approved, travel auction site Off & Away and Twitter photo-sharing app Plixi.
In her statement, Augustine assured the firm’s focus on social commerce and plans to continue on as a “much more nimble” operation. The Pinterest-style site offers users the chance to discover the latest in fashion, beauty and entertainment and earn points for sharing, inviting friends, interacting with content on the site and purchasing items promoted there. The site also offers discounts on clothing, electronics and other items in its online shop.