Bangalore: The five year old female centric online media startup, Refinery29 raises $50 million in Series D round of funding led by the giant advertising and marketing company – WPP and Scripps Networks Interactive. The fund will be utilized to extend its media including video content and entertainment programming which focuses on millennial generation of women. The company also plans to use the fund in the worldwide development and building more connections via mobile and social media platforms.
Incorporated in 2010 by Justin Stefano and Philippe Von Borries, the digital lifestyle media company, Refinery29 was started out as a hyper local blog for fashion news. However the firm has successfully grown as a multi vertical media platform for women today and has been developed as the fastest growing independent fashion and style website in the United States. The firm connects to over 21 million monthly visitors and 1.9 million email subscribers with 24/7 programming. It delivers ideas concerning shopping, beauty and wellness. It also offers tips, tricks and tools to assist women to live a stylish, creative and a beautiful life.
Expanding its reach, Refinery29 aims to invest heavily in video and will likely look into other distribution platforms, such as Snapchat, Facebook and many more for its own unique video content which will include comedy, documentary, editorial and scripted works.