Germany-based media and RTL Group agreed on Monday to acquire a controlling stake in US-based online fashion video network StyleHaul for $107m.
Founded in 2011, StyleHaul runs what it claims is the largest fashion and beauty network on YouTube. The deal valued the company at $151.4m, increasing RTL’s stake from 22.6% to 93.6%.
RTL picked up its original stake for $6m in May 2013, three months after StyleHaul closed a $6.5m series B round featuring RTL’s parent company Bertelsmann, which participated through its Bertelsmann Digital Media Investments subsidiary.
Altogether, StyleHaul had raised $16.9m in funding prior to RTL’s latest investment, with previous backers including Wavemaker Partners, Juvo Capital and RezVen Partners. The statement released by RTL implied all the external investors had exited the company through the deal.
Stephanie Horbaczewski, StyleHaul’s chief executive, said: “We are very thankful for all the support we received from my co-founders Allen and Aaron DeBevoise and our other investors RezVen and Bertelsmann Digital Media Investments.
“This opportunity allows the unwavering passion and dedication of the StyleHaul team and ground-reaking community of influencers to accelerate all aspects of our business and we are very excited about what we will accomplish together with RTL Group.”