Refinery29 lifestyle website raises US$50 million
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Refinery29, a digital lifestyle news site aimed at women, said it had raised US$50 million in one of the largest capital rounds in the burgeoning sector.
The service said in a statement it would use the funds 鈥渢o accelerate its mission to become the global media company for a new generation of women, powering inspirational, smart entertainment and discovery tools and resources across lifestyle categories.鈥
The company plans to expand internationally, boost its video content and seek to extend its reach to mobile users.
鈥淢edia is at an inflection point,鈥 said Philippe von Borries, co-founder and co-chief executive of Refinery29.
Refinery29, founded in 2005 in New York, has nearly doubled in growth in each of the last three years and the business is profitable, according to the statement.
The site says it has 鈥渁 loyal following of 25 million monthly unique visitors,鈥 or roughly one out of every four 鈥渕illennial鈥 or young adult women.
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