Opinion
Locker Founder: LTK and ShopMy Gatekeep Influencer Curation and Earnings
“Platforms like LTK, ShopMy have gatekept who gets to be an influencer and curate and earn off of their recommendations.”
Assertion Supported
Competitor Nate Raised Over $50M Before Shutting Down in January
“They raised over fifty million dollars and closed their doors January of this year and laid off their entire team.”
Disclosure
Locker Rejected a $1 Million Term Sheet at a $5M Valuation
“We received a term sheet while I was on my honeymoon from a fund. The one thing with the term sheet is that the terms were not agreeable. It was a million dollar term sheet for a five million dollar valuation. So we ultimately ended up walking away from that t…”
Assertion Supported
Locker Founder: 85% of US Consumer Spending Is Driven by Women
“85% of consumption in America is, like, driven by females, so it's the woman buying for the house, it's the woman shopping for her partner, and so it's definitely not speaking to the pain points, per se, of those investors”
Insight
Locker: Saved product links create high switching costs for shoppers
“Once you capture a user and now that's their memory bank of all the things that they want to buy to then have them switch over to a different platform, it's, I've got all of my favorite things that I shop in there. So now you have a hundred links, like, It wou…”
Assertion Not checkable as stated
Locker Reaches 40,000 Users and 1 Million Saved Products
“Our 40,000 users have organically saved over one million products to the platform”
Disclosure
Locker Is Raising a $3 Million Seed Round
“We are raising three million dollars to invest in the people and the product that will continue to capture the one trillion dollar online shopping market.”
Assertion Not checkable as stated
Locker Generated $300,000 in GMV in Its First Three Months
“So we turned on monetization three months ago, and in those last three months we've generated 300 K in GMV.”
Assertion Not checkable as stated
Locker Has 2,000 DAUs, 11,000 MAUs, and 30-Minute Daily Engagement
“We have 2000 daily active users. We're at 11,000 monthly active users, and of those users, the engagement we know is that they come to the platform and spend an average of 30 minutes a day, whether they're browsing the Discover feed, their own profile, or othe…”
Assertion Supported
Failed Competitor Nate Paid Users $50 Just to Create an Account
“Nate spent a lot of money to acquire their customers. You could create an account on the app, and you got 50 dollars, so they got a lot of users, because why wouldn't you sign up to get 50 dollars?”
Disclosure
Locker Secured a $500,000 Check from a Silent Angel Investor
“We got a 500 K check from another strategic angel. They're a silent angel. They're just a high net worth individual. One of my dad's friends. And I was talking to them about the platform and I was showing them how it worked and I like was explaining and he was…”
Assertion Not checkable as stated
Locker Reaches 75,000 Users with Revenue Covering 50% of Burn
“We have 75,000 users. 50% of our burn is covered with our monthly revenue, so like, we are capital efficient, we have users, they're doing what we want them to be doing, so we've created these inclinations of initial product market fit”
Assertion Not checkable as stated
Locker Amasses 40,000 Users and 1M Saved Products Organically
“Our 40,000 users have organically saved over one million products to the platform,”
Disclosure
Christine Locker Seeks $3M to Expand Social Shopping Startup Locker
“And so we are raising three million dollars to invest in the people and the product that will continue to capture the one trillion dollar online shopping market.”
Assertion Not checkable as stated
Locker Generated $300K in GMV in First Three Months of Monetization
“So we turned on monetization three months ago, and in those last three months we've generated 300 K in GMV.”
Assertion Not checkable as stated
Christine Locker Invested $250K Personal Capital and Raised $1M Angel Round
“So I put 250,000 of my own money into the company to get it to our first 10,000 users. Then I raised a million from an angel investor who was a user of the platform in June of twenty-twenty-two.”
Assertion Not checkable as stated
Locker generated $9k, $11k, and $13k in its first three months of monetization
“Revenue, we turned on revenue three months ago. In the first month of turning on revenue, we generated nine K, in the second month it was 11, and in the last month it was 13 K.”
Assertion Not checkable as stated
Locker reports 2,000 DAU, 11,000 MAU, and 30-minute daily user engagement
“Yeah, so we have 2000 daily active users. We're at 11,000 monthly active users, and of those users, the engagement we know is that they come to the platform and spend an average of 30 minutes a day, whether they're browsing the Discover feed, their own profile…”
Assertion Supported
Locker Founder: Competitor Nate Raised $50M+ Before Shutting Down in January 2023
“They raised over fifty million dollars and closed their doors January of this year and laid off their entire team.”
Disclosure
Christine Locker Invested $250K Personally Before Raising a $1M Angel Round
“I put 250,000 of my own money into the company to get it to our first 10,000 users. Then I raised a million from an angel investor who was a user of the platform in June of 2022.”
Assertion Not checkable as stated
Locker's user base is 95% female and primarily aged 18 to 27
“Our core group is 18 to 27. We skew 95% female, and our secondary group is 28 to 34.”
Christine Locker