Refinery29 Website for Women Raising Up to $50 Million

Fortune: Refinery29, a fashion and lifestyle website for young women, is said to be close to raising a large new round of funding. The company is seeking up to $50 million. Most of the money in this round would come from strategic investors, including existing shareholder Hearst. One source said that the round would value Refinery29 at around $240 million.