WPP to invest in funding round for Refinery29

28th Apr 2015 10:05

Publishing group WPP has made an investment in the $50m (£32.8m) series D funding round for fashion and lifestyle media group Refinery29.The London-listed company said it would make the investment through its WPP Ventures business, adding it would partner with US-based media group Scripss Network Interactive in the investment."Refinery29 operates at the intersection of content, commerce and social media - all areas of focus for WPP Ventures," said Tom Bedecarré, president of WPP Ventures."We're delighted to make this investment alongside Scripps."WPP shares were down 1.59% to 1,559.75p at 10:14 on Tuesday.