A+E made an investment in Beautycon Media, a destination for generation Z and millennials in the fashion and beauty space.
Beautycon Media, founded by CEO Moj Mahdara, raised $9 million in series A funding from a group of investors headed by A+E, Main Street Advisors and Live Nation.
Mainstream media companies have been investing in digital companies in order to reach younger consumers who have either cut the cord or have never had a pay-TV subscription. A+E, which has a stake in Vice Media, sees ways in which Beautycon can work with its Lifetime women’s channel.
Related: Cable Tries New Script to Work With Advertising Clients
“Beautycon has done an incredible job growing and evolving their business into a major player not only in the experiential marketplace, but also the digital content and ecommerce businesses,” said A+E CEO Nancy Dubuc. “As a co-founder of Beautycon and a strong supporter of women, Moj has created a global movement for beauty and fashion enthusiasts. We are thrilled to partner with Beautycon, and look forward to exploring a number of synergies particularly with our Lifetime brand.”
The series A round funding will be used to continue their work making connections for the beauty, fashion, and lifestyle communities through their Beautycon Festivals, Beautycon Box, and Beautycon Digital platforms, with the goal of redefining beauty.
Related: A+E Networks Joins Hulu Live Streaming Service Lineup
“I am excited about the future and looking forward to continuing to develop and grow Beautycon Media to the next level,” said Mahdara. “We will continue to be the go to company for brands to be able to engage directly with their fans in the millennial and Gen Z space and we will continue to elevate the IRL experience for the consumer.”
Other Beautycon investors include: BBG Ventures (AOL’s Venture Fund), Hearst Media, Superfly, MACRO, Third Wave Digital, Troy Carter, Heather Parry, Guy Oseary, James Lassiter, Peter Morton, Tyra Banks, Rachel Zoe, Fullscreen, QueensBridge Venture Partners, Gleam Futures, Storm Models, Bethany Mota and Creative Artists Agency.
