You probably don't need to be told this, but the online retail business is booming, one click at a time. And thanks to innovative companies like rewardStyle, a monetisation platform that allows style influencers and global brands to drive e-commerce revenue from your clicks, it's about to grow even more lucrative.
After being valued at $290 million, rewardStyle has just scored three new super investors - the innately stylish Buro 24/7 founder Miroslava Duma, Nasiba Adilova and Veronica Chou. Their role as strategic investors will ensure that the company's growth will only quicken. "Many companies and great fashion minds have increasingly been trying to help retailers and publishers monetise their daily content and communication. rewardStyle has distinguished itself by building this extraordinary platform," says Miroslava Duma.
Launched in 2011, rewardStyle drove more than $60 million worth of retail sales in its first financial year. By comparison, in 2015 its team of digital influencers will drive $0.5 billion in sales - that's how quickly it has grown. So how does it work, exactly? rewardStyle relies on a network of 9,000 content creators and 4,000 global retailers to create content that derives revenue directly from your add to cart click. So when your favourite blogger posts a YSL bag on their site and you get directed to Net-a-Porter to buy it, the style influencer will receive a portion of the sale, if you choose to shop.
Posed as a way for digital influencers and bloggers to monetise the content they create on a daily basis, it's also a way of empowering them to create great content to drive global retail sales. With online publishers, e-tailers, bloggers, style influences and powerful brands like Nike, Topshop, Net-a-Porter and YSL on board, expect rewardStyle to become only more valuable in the near future.
Visit rewardstyle.com for more info on the platform.