According to a recent SEC filing, fashion news and e-commerce site Refinery29 has raised $3.5 million through a private offering from a total of seven undisclosed investors.
The Web site, which focuses on trends and independent designers, has grown rapidly since it launched in 2005 in New York City. It now focuses on six cities (NYC, Los Angeles, San Francisco, London, Chicago and Washington, D.C.) and boasts 30 million unique visitors per year, according to stats on its website. In 2012 the company expected to hit $20 million in revenue, with a quarter of that amount from advertising. Refinery29 told Upstart Business Journal last year that it was in the midst of changing the focus of its revenue model away from advertising to its new online boutiques. It’s one of several fashion sites, including Thrillist and Daily Candy, that mix fashion coverage with e-commerce.
Refinery29′s seed funding round back in 2010 included angel investors Ramesh Haridas, Mark Mitchell and Jim Yang.
Refinery29 has been emailed for comment.
Refinery29 is the cornerstone of fashion, beauty, and shopping for a new generation. Combining daily local newsletter editions and a website that serves as a global style hub, Refinery29 offers the only 360-degree source for shopping, exclusive deals, trends, beauty news, local hot-spots, and at-home sneak-peeks of fashion’s finest. At Refinery29, great style isn’t just a one-way obsession—it’s a fast-changing world where readers talk, designers, brands, and shop-keepers engage, and great fashion influences everything.
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