RewardStyle, which helps bloggers make money by connecting their audiences with e-commerce options, raised $15 million from some high-profile backers to expand its reach globally.
Maverick Capital Ventures led the Series A funding round, with participation from Russian media entrepreneurs Miroslava Duma and Nasiba Adilova and investor Veronica Chou, the daughter of Silas Chou and a former Iconix China executive. This gives the company a valuation of $290 million, according to RewardStyle cofounder and president Amber Venz Box.
The Dallas-based company started working with online influencers and bloggers in 2011, realizing there was opportunity in building personal businesses through the affiliate model online. RewardStyle has become a gatekeeper of sorts that not only fuels e-commerce sales, but rewards the people or brands responsible for driving the purchase. To date, 9,000 individuals and 4,000 retailers work with the platform.
The focus is on the retail sales these content creators drive, which by year’s end will surpass $1 billion, according to Venz Box. This is more than triple the $280 million in sales that RewardStyle drove last year.RewardStyle makes money by taking a cut of the sales it generates.
She contended that “top earners” are generating more revenues than ever.
“The new generation is earning more,” Venz
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