Lifestyle bloggers are attracting venture capital interests, according to Advertising Age. Fashion and cooking blogs are the current focus of investor largesse–with writers such as Leandra Medine of the Man Repeller site, who started blogging as a hobby winning big bucks for their musings.
Michelle Phan, who rose to fame blogging on YouTube about beauty tips, has raised $3.8 million for her beauty subscription site, launched as MyGlam but now known as Ipsy. It boasts one million registered members, 150,000 Glam Bag subscribers, and $1.5 million in sales each month.
The hobby aspect of these success stories should not, however, be disregarded. Another blogger, Geri Hirsch, started Because I’m Addicted for that very reason. Now she sells space through an advertising network, and used her influence with her readers and viewers to get investment for the Leaf video network. Her aim? “I want Leaf to be a lifestyle brand,” she says.