Refinery29 is one of the largest fashion blogs to go after the content + commerce business model, and now TechCrunch is reporting that Refinery29 recently raised $3.5 million. We estimated Refinery29′s valuation at $20 million, based on other blog sales and 2011 revenue estimates of $8 million, but in 2012 the estimates were $20 million. [...]
Refinery29, a multi-author professional fashion blog, disclosed revenue numbers that indicate the online advertising trend may be headed in the right direction for fashion blogs. In an interview with TechCrunch, CEO Philippe von Borries predicts that the site will do $8 million in revenue this year, based on first quarter earnings.
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