Glam Media’s $18.5M Makeover
Fashion and lifestyle online “hub” Glam.com has a round of fundraising and gets an $18.5 million facelift.
The old adage, “you should never judge a book by it’s cover” holds true in the case of the seemingly superficial beauty and fashion site Glam.com. The “web hub” has ambitions of doing much more than just providing fashion tips and beauty secrets.
Glam.com’s mission is to help revolutionize the power of publishing, distribution, monetization, and consumption of targeted Internet media, according to representatives. With a new round of fundraising, Glam is well on its way to achieving that goal.
Samir Arora, company chairman, announced yesterday that it had received $18.5 million in Series C funding. The fundraiser was led by Duff Ackerman & Goodrich Ventures (DAG), with participation from existing investors Accel Partners, Draper Fisher Jurvetson, WaldenVC, and Information Capital.
Arora says that Glam won’t be using the money to buy more makeup, rather they will use the funds to “accelerate the growth of the largest fashion and style network on the Web and expand its sales and editorial teams.”
The expansion of the teams has already begun with addition of CNET chairman Jarl Mohn joining Glam Media as an investor and strategic advisor.
Arora also announced in a separate press release that Glam would feature content from Hearst Magazine such as Cosmopolitan and Marie Claire beginning this month.
Glam.com, which currently has over 7 million viewers a month, is the fastest-growing web property targeting women worldwide.
Bearing that in mind, John Cadeddu, manager director of DAG Ventures said, “With over 50 percent growth quarter over quarter, Glam has created a highly desirable new Web 2.0 business model.”
The site is composed of fashion, beauty, and lifestyle channels with more than 200 Glam-owned and affiliate partners web sites; GlamSpace, the first social network for fashion and style; and GlamCentral, which ranks and searches fashion and style blogs.
Autmn Davis is a staff writer for WebProNews covering ebusiness and technology.