Refinery29
Refinery29 is an American digital media company founded in 2004 by filmmakers Philippe von Borries and Justin Stefano, initially as a platform offering fashion and style content targeted at young women.[1][2] The company expanded to cover lifestyle topics including beauty, wellness, entertainment, and social issues, amassing a global audience primarily composed of millennial and Generation Z women, with 83% female readership and a focus on urban, affluent demographics.[3][4] Bootstrapped for its first eight years before raising venture funding, Refinery29 grew into a multimillion-dollar brand by prioritizing original content and audience insights to drive engagement and revenue.[4] It was acquired by Vice Media in 2019 in a deal emphasizing stock over cash, integrating it into a broader youth-oriented media portfolio, though Vice's subsequent financial struggles led to Refinery29's divestiture and acquisition by Sundial Media Group in April 2024.[5][6][7] The outlet has produced award-winning content and leveraged data to monetize its reach, but its editorial stance has been rated as left-biased, favoring liberal perspectives in story selection.[8][9] Refinery29 faced significant controversy in 2020 amid allegations of toxic workplace culture, racial insensitivity, and pay disparities disproportionately affecting Black and other women of color employees, culminating in the resignation of longtime editor-in-chief Christene Barberich and an internal investigation prompted by former staff accounts.[10][11][12] These revelations highlighted contradictions between the company's public promotion of feminist and inclusive values and internal practices, drawing criticism for embodying "white feminism" despite a diverse readership.[13][14]
History
Founding and Early Years (2005–2010)
Refinery29 was founded in 2005 by Justin Stefano and Philippe von Borries, high school friends who left their respective careers in law and politics without prior experience in fashion or entrepreneurship.[4] [15] The venture began informally at von Borries' kitchen table in Brooklyn, New York, initially serving as a city guide that curated "29 best" lists of under-the-radar independent boutiques, emerging designers, and artists in fashion, home, music, and design, with an early emphasis on New York and Los Angeles locales.[4] [16] Piera Gelardi, von Borries' future wife and a creative strategist with an art school background, and Christene Barberich, a former editor at CITY magazine, joined as co-founders to handle creative and editorial roles, respectively, shaping the site's focus on bold, peer-to-peer content for women.[15] [16] The company operated on a bootstrapped model, generating initial revenue through sample sales and pop-up shops rather than traditional advertising or venture capital, as the founders were initially unaware of funding options beyond personal resources.[17] [4] For the first three years, Stefano and von Borries paid themselves modest salaries of $28,000 annually, facing skepticism from others who dismissed their lack of industry credentials.[4] Content refocused on fashion due to reader demand, partnering with networks like Glam Media for ad revenue, while prioritizing independent brands over mainstream ones to fill perceived gaps in women's media coverage.[4] [16] By 2008, Refinery29 secured its first investment of $160,000 from designer Steven Alan, enabling the hiring of part-time staff, followed by a $500,000 angel round in 2009 that supported a head of sales and pushed annual revenue to $400,000.[4] [17] Revenue quadrupled to $1.6 million in 2010, coinciding with the development of an email newsletter product that began building a subscriber base, marking the transition from a niche local guide to a broader digital platform amid growing millennial audience engagement.[4] This period laid the groundwork for expansion by emphasizing authentic, community-driven content over polished corporate narratives.[16]