Michelle Phan’s Ipsy Hits $150 Million In Revenue, Launches Open Studios

Ipsy is expanding its business and offerings for creators. The subscription-based beauty company, co-founded in 2011 by YouTube phenomenon Michelle Phan, has launched the ipsy Open Studios for the development of up-and-coming beauty creators, and is also hosting the latest Generation Beauty event from May 30-31, 2015.

The new ipsy Open Studios focuses on helping beauty creators improve their careers through various tools, mentoring, and events. Creators can sign up free of charge to use studio space and production equipment, attend one-on-one coaching sessions with Phan, gain access to industry conferences and networking events, and even receive a monthly subscription to ipsy’s flagship Glam Bag product.

“Much of ipsy’s growth and success can be attributed to our amazing content and the talented creators we’ve partnered with,” said Phan. “Just a few years ago, I was an aspiring artist myself, so I know first-hand the challenges facing beauty content creators today. Through ipsy Open Studios, we hope to empower the next generation of storytellers with more resources, tools, and relationships.”

“From the beginning, we’ve elevated digital content creators to be the true voices in beauty,” said CEO and ipsy Founder and CEO Marcelo Camberos in a release. “Our goal is to give back to the beauty creator community and enable talented creators to break through and find an audience.”

In addition to the Open Studios, ipsy is hosting the Generation Beauty conferences at the L.A. Live Event Deck from May 30-31. The event brings together popular beauty creators, their fans, and makeup brands in a large networking, collaboration, and discovery-based environment. Last year’s Generation Beauty event attracted more than 2,500 attendees, 20 brands, and over 200 YouTube beauty vloggers with a combined total of 45 million subscribers. Ipsy is hosting a second Generation Beauty event from October 3-4 in New York City.

Ipsy currently ships over one million Glam Bags every month to subscribers in the U.S. and Canada. The company was on track to hit $84 million in revenue in 2014; now, ipsy reports it is has hit the $150 million milestone mark.