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Fashion media company Refinery29 raises $50 million

Reuters - UK Focus

April 28 (Reuters) - Lifestyle and fashion media company Refinery29 said on Tuesday it raised $50 million in a funding round that included backers Scripps Networks Interactive (NYSE: SNI - news) and ad agency WPP (LSE: WPP.L - news) .

The latest influx increases Refinery29's total funding to $80 million from previous investors including the Stripes Group, Hearst Corp and Lerer Ventures.

While the company did not disclose its valuation, Recode reported it at $290 million citing a person familiar with the situation.

Refinery29 is the latest new media site to reap millions in dollars from investors including BuzzFeed and Vox Media.

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Scripps Network Interactive's chief development officer Joseph NeCastro will join Refinery29's board of directors as well as a representative from WPP's venture arm.

(Reporting by Jennifer Saba in New York; Editing by Chris Reese)