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.