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#REDIRECT Ipsy

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Contents [hide] 1 About 2 History 3 Founder 4 Company 5 Investors 6 Ipsy and L'Oreeal 7 References About[edit | edit source] Ipsy is online monthly subscription service that delivers makeup samples and full sized beauty products to memb.[1] Subscribers can choose between one-month and year long subscription options. The samples and full sized products are delivered in a Glam Bag that doubles as a makeup carrying bag. Each Glam bag contains a selection of 4-5 beauty samples that are selected based upon the preferences, habits, and color options selected by the Ipsy member. The profile creation process is completed using an online quiz, which asks the subscriber’s questions such as beauty preferences, eye and hair color, favorite brands, and clothing styles.

History[edit | edit source] Ipsy was Co-founded in 2011 by YouTube beauty vlogger Michelle Phan. The idea for Ipsy came to Phan as she began posting beauty tutorials videos on YouTube.com where she now has acquired over 1 billion views and 7.4 million followers.[2] At the early start of her YouTube career in 2007, Phan gained a rapid following with over 40,000 followers in her first week. The most fame came from her Lady Gaga inspired make-up tutorital which as of January 2016 has over 54 million views. The rapid increase in followers on her YouTube channel caught the attention of Lancome, who signed Phan as their first video makeup artist and first Vietnamese spokesperson in 2010 where she was featured in its global product videos.[3]

In 2011, Ipsy co-founder, Michelle Phan, introduced myglam.com in a video announcement she made on her YouTube channel. In September 2012, "MyGlam" was renamed Ipsy.[4]

In 2015, Ipsy grew to $150 million in annual revenue and as a result opened their Open Studio venture. Today, Ipsy has over 1.5 million monthly subscribers and is valued at $800 million.[5]

Founder[edit | edit source] Ipsy was founded by Michelle Phan, who was born in Boston, Massachusetts in on April 11, 1987.[6] Phan attended Tampa Bay Technical High School and later attended college at Ringling College of Art and Design.[7]

Phan's carer began in May 2007 when her YouTube career launched. In May 2014, Phan partnered with Endemol Beyond USA. The new partnership would allow them to build a premium lifestyle network for women that will featured YouTube beauty and cosmetic stars.[8]

In September 2014, Phan partnered with Cutting Edge Group to launch Shift Music Group. The focus of Shift Music group is to utilize social media to create awareness for new and rising artists.[9]

In October 2014 Phan launched a book called, “Make Up: Your Life Guide to Beauty, Style, and Success -- Online and Off."[10] Phan's book features stories from her own life, advice, career advice and etiquette, as well as beauty and style tutorials.[11]

In 2014 Phan's YouTube Channel ranked #48 on New Media Rockstars' Top 100 Channels. In 2015, Phan was named to the Inc. 30 under 30 and Forbes 30 under 30 lists. In a Forbes ranking of the top 10 highest grossing YouTubers, Michelle Phan came in at #7, and it is estimated that she brought in $3 million in income last year.[12]

Company[edit | edit source] Ipsy is a California based company with offices located in the Bay Area, NYC, and LA. Ipsy has an estimated 100 employees and an estimated annual revenue of $93.1M.[13] Alongside co-founder Michelle Phan, Ipsy's current founder and CEO is Marcelo Camberos and their current president is Jennifer Goldfarb. Ipsy's Executive Vice President is Spencer McClung.

As a part of their business plan, Ipsy has also introduced the concept of Open Studio (ipsyOS) in Santa Monica, California. Open studio is a large space where over 10,000 video bloggers can gain access to studio space where they can produce and edit videos using digital tools provided by Ipsy.[14] Participants also receive invitations to industry events, beauty tips, and mentor sessions from Ipsy staff within the Studio or via Google Hangout[15]

Investors[edit | edit source] Receiving over $100M in growth, the company has five investors including 500 Startups, Crosscut Ventures, Investible, Sherpa Capital, and TPG Growth.[16] In the attempt to raise money in their early years, Ipsy went through three rounds of funding. In December 2011, Ipsy received a seed investment of $480,000. On July 13, 2012, Ipsy received a Series A venture investment for $2,760,000 from Investors Crosscut Ventures, 500 Startups, and Investible. On September 14, 2015, Ipsy received a Series B venture investment for $100,000,000 with a valuation of $700,000,000 pre-money from TPG Growth and Sherpa Capital.[17]

Ipsy and L'Oreeal[edit | edit source] Ipsy, Michelle Phan, and L’Oréal USA signed a deal in 2013 to open a makeup line called Em. Selling under the L'Oreéal brand on Amazon’s Luxury Beauty Store site in July 2014, the development of the products never got past the start-up phase.[18] According to WWD, there was criticism that the pricing was too high for Phan’s youthful audience. In 2015, L'Oreeal and Michelle Phan split ways and Phan bought back her beauty line to sell strictly to Ipsy members.

References[edit | edit source] Jump up ^ "Ipsy About Us". www.ipsy.com. Personalized Beauty Discovery, Inc. February 17, 2017. Retrieved January 24, 2017. Jump up ^ Phan, Michelle (2016). "About Michelle Phan". Michelle Phan. Funk Digital Media. Retrieved January 25, 2017. Jump up ^ "Michelle Phan". Wikipedia. Wikipedia. January 1, 2017. Retrieved February 17, 2017. Jump up ^ Prousky, Carolyn (September 12, 2012). "ipsy.com, Online Beauty Site Co-Founded by Michelle Phan, Launches Today". Business Wire. Retrieved March 1, 2017. Jump up ^ "How Michelle Phan's Ipsy Studio Does Influencer Marketing". MediaKix. May 4, 2016. Retrieved February 17, 2017. Jump up ^ Phan, Michelle (May 19, 2013). "Draw My Life - Michelle Phan". YouTube. Retrieved February 17, 2017. Jump up ^ Ricapito, Maria (May 28, 2010). "Viral Videos: Michelle Phan's Rise to YouTube Stardom". Vanity Fair. Retrieved February 17, 2017. Jump up ^ "Beyond beauty! Welcome Michelle Phan". Endemol Beyond. February 17, 2017. Retrieved February 17, 2017. Jump up ^ Spangler, Todd (September 26, 2014). "YouTube's Michelle Phan Launches Music Label". Variety. Retrieved February 17, 2017. Jump up ^ Weiss, Geoff (March 31, 2015). "How Ipsy, Michelle Phan's Million-Member Sampling Service, Is Giving Birchbox a Run for Its Money". Entrepreneur. Retrieved March 1, 2017. Jump up ^ Herman, Barbara (October 14, 2014). "YouTube Star Michelle Phan's New Book 'Make Up' Chronicles Her Rise To Internet Superstardom". International Business Times. Retrieved March 1, 2017. Jump up ^ Berg, Madeline (October 14, 2015). "The World's Highest-Paid YouTube Stars 2015". Forbes. Retrieved March 1, 2017. Jump up ^ "ipsy". Owler.com. February 17, 2017. Retrieved February 17, 2017. Jump up ^ "Open Studios - About Us". IpsyOS. February 17, 2017. Retrieved February 17, 2017. Jump up ^ Trop, Jaclyn (June 1, 2015). "This is Michelle Phan's plan to create the next generation of YouTube stars". Fotune. Retrieved March 1, 2017. Jump up ^ "ipsy - Investors". CrunchBase. CrunchBase. 2017. Retrieved January 24, 2017. Jump up ^ "ipsy overview". CrunchBase. CrunchBase. 2017. Retrieved January 23, 2017. Jump up ^ Naughton, Julie (October 9, 2015). "L'Oréal USA, Michelle Phan Part Ways; Em Michelle Phan Heads to Ipsy.com". WWD. Retrieved March 1, 2017.