On Track To Make $8 Million This Year, Refinery29 Invades San Francisco
CEO Philippe von Borries tells me the company’s is on track to do $8 million in revenues this year, based on the first quarter run-rate. It ended 2010 with $2 million in sales, up from %600,000 in 2009. “Our formula is to engage users with content and convert them into shoppers,” he says. Still, he expects advertising to make up 75 percent of his revenues this year, and the commerce business to make up another 25 percent. The Reserve business is only in New York right now, but will soon launch in San Francisco as well
Interesting hyper-local strategy.