28th Apr 2015 07:32
LONDON (Alliance News) - WPP PLC on Tuesday said it has made an investment in the USD50 million Series D funding round for fashion and lifestyle media company Refinery29 Inc.
WPP is making the investment in the funding round through its WPP Ventures business and said it is partnering with Scripps Networks Interactive, a US media company, on the investment. WPP did not say how much it had invested in the funding round.
Refinery29 is a privately-owned fashion and lifestyle content platform.
"Refinery29 operates at the intersection of content, commerce and social media - all areas of focus for WPP Ventures. We're delighted to make this investment alongside Scripps," said Tom Bedecarré, president of WPP Ventures.
Shares in WPP were down 1.0% to 1,569.00 pence early Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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