RTL Group has acquired a minority stake in StyleHaul, a YouTube fashion and beauty network that was co-founded by Machinima CEO Allen DeBevoise.
With the investment, Giles Drew from RTL Group’s Corporate Strategy team will join StyleHaul’s board of directors, RTL confirmed.
Though details of the agreement were not disclosed, StyleHaul is reported to have raised US$6 million (€4.66 million) through the deal, which follows an earlier reported investment by RTL parent Bertelsmann via its digital media investments arm earlier this year.
RTL Group said the StyleHaul investment underlines its strategy to become a leading player in all segments of the rapidly growing online video market, and complements FremantleMedia’s portfolio of more than 100 YouTube channels.
“Stephanie Horbaczewski is building a very exciting business at StyleHaul, and we’re extremely pleased to be a part of it,” said Giles Drew, Vice President Strategy at RTL Group.
“Online video is at the very heart of RTL Group’s strategy, and this investment is a great fit for our vision. StyleHaul’s highly engaged global community of like-minded video viewers supports both our ambition to be a leader in online video, and our strategy to develop our portfolio of brands targeting specific demographics and interest groups.”
StyleHaul was founded in 2011 by former Saks Fifth Avenue marketing director Horbaczewski, along with Allen and Aaron DeBevoise – the team that founded video-game focused multichannel YouTube network Machinima.
StyleHaul consists of more than 2,000 style channels and claims to be the largest original network on YouTube for fashion and beauty, ranking 16th in terms of video views among YouTube partners with more than 300 million video views per month. The business employs some 40 people and is headquartered in LA with an office in New York.
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17th September 2019