Vice Media Acquires Refinery29; The Company Was Valued At $500 Million
UNITED STATES — Refinery29 has a new owner!
New York-based Vice Media Group has acquired the digital media company for Millennial women, founded in 2005 by husband-and-wife team Philippe von Borries and Piera Gelardi, along with Christene Barberich and Justin Stefano.
The purchase price was not revealed, but the platform, which focuses on beauty, fashion, entertainment, news and lifestyle trends from a female perspective, was previously valued at around $500 million.
The deal comes at a time when both organizations are eager to build scale and, according to Nancy Dubuc, chief executive officer of Vice, Refinery29 will help bolster its digital business, e-commerce and burgeoning creative agency divisions.
“Vice Media Group and Refinery29, two of the strongest independent voices in the industry, will continue to build a scaled global and diversified media company,” she said.
Von Borries and Stefano, co-ceo’s at Refinery29, added: “This transformational partnership will allow our mission and business to flourish further. We are proud to partner with Nancy and Vice Media Group, and we are confident that together we will be able to expand our vital role in shaping culture and positively impacting the world for young people everywhere.”
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