Beauty and entertainment company Bankable, of which Tyra Banks is the CEO, has struck a deal with Demand Media, which will culminate in an interactive web property, an online video series and a set of mobile apps. Tyra Banks will also become a shareholder in Demand Media.

"I have always been passionate about harnessing my experience and knowledge in the beauty and fashion businesses and creating an engine that would provide my audience with inspirational and instructional content to help them look and feel their best," said Banks. "I am very confident that with Demand Media, that dream is about to become a reality."

Demand Media points out that beauty and fashion sites had over 47mm unique US visitors in April, citing comScore numbers, while there isn’t really a dominant site in that category. They hope to change this.

"We believe that the Beauty and Fashion segment is a very exciting, yet underserved online market. And while we have the technology platform and online experience to capitalize on the opportunity – we wanted to work with the most talented and successful industry professional to really create a unique product for consumers and advertisers," said Demand Media CEO Richard Rosenblatt. "Tyra is the leading expert and personality in the field of fashion and beauty and we are thrilled to be working with the person that a generation of young women have grown up with and trust."

Demand Media is already reaching about 87mm visitors worldwide (as of May according to comScore) through sites like eHow, Livestrong, Cracked, etc. Today’s news should bolster that number nicely.