NEW YORK, United States — RewardStyle, a startup that helps fashion bloggers get paid, has raised $15 million in a funding round that values the company at $290 million.
Maverick Capital Ventures led the Series A round, Dallas-based RewardStyle said Tuesday in a statement. The company plans to use the funds to expand its technology.
RewardStyle lets fashion bloggers and social-media personalities get paid by brands whose clothing and accessories they show off to their followers. The company’s LikeToKnow.It product lets a select group of influential people tag Instagram photos with special links. Then, customers who sign up can like the tagged posts and receive an e-mail with a page featuring the clothes in the image and a link to purchase them.
Co-founded by Amber Venz Box in 2011 as a way for fashion bloggers like herself to make money, RewardStyle drew inspiration from the commission that personal shoppers make from boutiques where clients purchase clothing. Bloggers get a cut when their followers buy something through their links. There are 9,000 content creators and 4,000 global retailers currently using the services, according to the statement.
By Alex Barinka; editors: Cecile Daurat, Lisa Wolfson.