Refinery29

Last updated
Refinery29
Refinery29 logo.svg
Type of site
Media and entertainment
Available inEnglish
FoundedNovember 2005;18 years ago (2005-11)
Headquarters
225 Broadway, New York, New York
,
U.S. [1]
Owner Sundial Media Group
Founder(s) Philippe von Borries
Justin Stefano
Piera Gelardi
Christene Barberich [2]
EmployeesOver 500 (as of October 2017) [3]
URL refinery29.com
LaunchedSummer 2005
Current statusActive

Refinery29 (R29) is an American multinational digital media and entertainment website focused on young women. It is owned by Sundial Media Group.

Contents

History

Justin Stefano, Philippe von Borries, Piera Gelardi, and Christene Barberich co-founded Refinery29 in 2005 as a city guide, emphasizing fashion local to New York City. [4] [5] The name of the website alludes to the website distilling information into its essence. [6] The company headquarters is located in the Financial District, Manhattan neighborhood of New York City. [7]

Refinery29 has over 450 employees globally [3] with offices in Los Angeles, [8] London, [9] and Berlin. [9] In 2015, the company launched a UK edition at www.refinery29.uk and the following year in 2016, a German edition at www.refinery29.de. [10] [11] In 2016, Refinery29 announced it had raised $45 million in funding led by Turner. [12] As of 2017, Refinery29 reaches an audience of over 500 million globally. [13]

On October 2, 2019, Vice Media announced that it would acquire Refinery29. The deal, worth a reported $400 million, [14] valued the combined company at $4 billion. [15]

In March 2021, Pedestrian Group announced a multi-year deal with Vice Media and Refinery29 to become the Australian digital publishing home of both brands. [16] [17] A new team was announced for Refinery29 later that year. [18]

On May 15, 2023, Vice Media formally filed for Chapter 11 bankruptcy, as part of a possible sale to a consortium of lenders including Fortress Investment Group, which will, alongside Soros Fund Management and Monroe Capital, invest $225 million as a credit bid for nearly all of its assets. [19]

In April 2024, Sundial Media Group purchased the company. [20] Refinery29 at the time of the sale had around 100 employees and roughly $100 million in annual revenue. [21]

In July 2024, it was reported that Refinery29 Australia would shut down amid a restructuring at Pedestrian. [22]

Content

Refinery29 produces editorial and video programming, live events, and social, shareable content delivered across major social media platforms, and covers a variety of categories.[ citation needed ]

Refinery29 was listed three consecutive years on Crain's "Fast 50", [23] [24] [25] has won seven Clio Awards, [26] [27] [28] [29] [30] [31] and seven Webby Awards. [32] [33] [34] [35] [36]

The company produces an annual pop-up exhibition, 29Rooms, where visitors can take self-portraits for sharing on Instagram. [37] [38] 29Rooms was launched in 2015 on Refinery29's tenth anniversary. [39] It has been credited as the first "selfie museum". [40] [41]

Notable writers for Refinery29 include Kathleen Newman-Bremang. [42]

Workplace culture and pay disparity

In early June 2020, women of color and black employees and freelancers took to social media to tell stories of discrimination while working for Refinery29. [43] A writer for the company wrote on Twitter of "a toxic company culture" and pay disparity [between people of color and white employees]. [44]

On June 10, 2020, co-founders and CEOs Justin Stefano and Philippe von Borries released a letter addressing the controversy, which read, in part: "After having read these accounts, we recognize how our privilege as two white male CEOs created blinders that kept us from seeing the struggles, exclusion, and aggressions that you felt at R29. This is an earthquake of a wake-up call." [45]

Co-founder Christene Barberich stepped aside as Global Editor-in-Chief, but remained an employee of Refinery29 until November 2020. [44] In Barberich's Instagram announcement post she wrote, "I’ve read and taken in the raw and personal accounts of Black women and women of color regarding their experiences inside our company at Refinery29 and what’s clear from these experiences, is that R29 has to change. We have to do better, and that starts with making room. And, so I will be stepping aside in my role at R29 to help diversify our leadership in editorial and ensure this brand and the people it touches can spark a new defining chapter." [46] On June 11, 2020, author and former Refinery29 employee Sesali Bowen called Barberich a "sacrificial lamb" on Twitter. [47] Barberich also faced criticism after a former employee recalled in 2020 that Barberich once cried in a team meeting after being told she seemed "squeamish" when discussing race. [48] It was stated Barberich had decided to go home earlier that day due to the confrontation. [49]

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References

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  2. ↑ "How Two First-Time Founders Went From $28,000 Salaries To Owning A $100 Million Media Brand". Business Insider. Archived from the original on August 28, 2024. Retrieved January 17, 2016.
  3. 1 2 Steigrad, Alexandra (2017-03-01). "Refinery29 Charts New Course of Growth Amid Restructuring". WWD. Archived from the original on 2020-01-26. Retrieved 2020-01-26.
  4. ↑ "Refinery29 launches in Germany". TechCrunch. 6 June 2016. Retrieved 2021-08-05.
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  6. ↑ "life's essentials include a budget". theblock-mag.com. Archived from the original on 2010-06-05.
  7. ↑ Michael Nunez (12 December 2011). "Refinery29: Boutique Fashion and Design for All". International Business Times. Archived from the original on 28 August 2024. Retrieved 2 December 2012.
  8. ↑ Spangler, Todd (2017-06-29). "Refinery29 Hires MTV Vet Joanna Bomberg as Head of Talent (EXCLUSIVE)". Variety. Archived from the original on 2024-08-28. Retrieved 2017-10-21.
  9. 1 2 Crook, Jordan. "Refinery29 launches in Germany". TechCrunch. Archived from the original on 2024-08-28. Retrieved 2017-10-21.
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  11. ↑ Samios, Zoe (2021-08-01). "'Diversity and inclusivity': Refinery29 Australia tries a new approach to fashion, lifestyle news". The Sydney Morning Herald. Archived from the original on 2021-08-05. Retrieved 2021-08-05.
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  25. ↑ "Seven media and entertainment companies make Crain's Fast 50". Archived from the original on 2017-03-29.
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  31. ↑ "Refinery29 Short Cuts x Cancerland - Cancerland". Clios. Archived from the original on 2017-10-21. Retrieved 2017-10-21.
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  34. ↑ "The Skinny | The Webby Awards" . Retrieved 2017-10-21.
  35. ↑ "Refinery29 | The Webby Awards". Archived from the original on 2017-10-21. Retrieved 2017-10-21.
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  42. ↑ Clarrie Feinstein, "Refinery29 expands Unbothered into Canada, uplifting Black women's stories". Daily Hive , February 17, 2021.
  43. ↑ "Refinery29 Editor Resigns After Former Employees Speak Out on Racism". Vulture. 8 June 2020. Retrieved 20 June 2020.
  44. 1 2 Robertson, Katie (2020-06-08). "Refinery29 Editor Resigns After Former Employees Describe 'Toxic Culture'". The New York Times . Archived from the original on 2020-06-09. Retrieved 2020-06-10. I worked at Refinery29 for less than nine months due to a toxic company culture where white women's egos ruled the near nonexistent editorial processes. One of the founders consistently confused myself and one of our full-time front desk associates & pay disparity was atrocious.
  45. ↑ "A Letter From Our Co-Founders and Former Co-CEOs". finance.yahoo.com. Archived from the original on 2021-08-05. Retrieved 2021-08-05.
  46. ↑ "Vice Media launches probe into Refinery29's toxic work environment". CNN. 19 June 2020. Archived from the original on 19 June 2020. Retrieved 20 June 2020.
  47. ↑ Sesali Thee Authoress [@BadFatBlackGirl] (2020-06-11). "Some points were made here, but let's clarify some things. I believe in saying names. First and foremost, Christene Barberich was about to leave Refinery anyway. She was an easy sacrificial lamb for all this" (Tweet). Archived from the original on 2021-08-05. Retrieved 2021-09-04– via Twitter.
  48. ↑ Jennings, Rebecca (2020-06-11). "Women's media seemed progressive in the 2010s. Black employees say otherwise". Vox. Archived from the original on 2020-06-14. Retrieved 2020-06-15.
  49. ↑ Bauck, Whitney (8 June 2020). "Refinery29 Founder Christene Barberich Steps Down as Editor-in-Chief in Response to Accusations of Racism and Toxic Company Culture". Fashionista. Archived from the original on 2024-08-28. Retrieved 2020-06-15.
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