As a technology writer, I often write about new startups. But it’s not every day that I come across a former supermodel turned tech entrepreneur. To be fair, this isn’t the first foray into tech that Tyra Banks has made (she created an odd app that made people look a lot like bugs a few months ago), but it’s the first that seeks to do what she does best - empower women.
Banks has recently pitched a startup idea to a group of investors (mostly men). Her new company will focus on women and helping women gain the “f-you money” (her words) that Banks believes every female entrepreneur needs. Intrigued? Here’s more.
Tyra’s New Startup
At first glance, the new Tyra Beauty company looks like a cosmetics line, and that is essentially what it is. Products have cheeky names that reflect the tough girl image Banks wants to project. The site also promises to provide users with beauty secrets that only Banks knows, but there’s not on the site at the moment. RIght now, the site is full of lots of photos of the supermodel herself, products, some Top Model information, and not much else.
So what is Tyra trying to pitch to investors? Why should someone invest in her company, and where does the money she’s talking about come into play? It’s hard to see why Banks’s new cosmetics line would entice investors. After all, it’s just another cosmetics line, and the market is already really crowded. But some might see the bigger picture, which is the Tyra sell. Sure, there are cosmetics on the site, but the site is really selling Tyra’s image - to all the same people that watch Top Model.
Tyra’s new beauty company has been self-funded up until this point, but she is seeking outside investment as well. What Banks plans to do with that money has not been stated yet, but it seems like she’s going to make another foray into the tech scene. Banks told investors that she learned her lesson with her previous ‘Smizing’ app, so it wouldn’t be shocking if the supermodel went into the app arena once again. Banks has stated that she has learned her lesson about less than par apps.
If you are curious about the new beauty line from Tyra Banks, you can check out her website at tyra.com (shocking, right?). Even though the site (and line) are largely narcissistic, this is what Tyra wants to sell - her image. When you boil it down, though, Tyra Banks’s image does sell.
I’m just not sure it sells enough to entice a roomful of investors, or any investors that can’t see a bigger picture. Then again, Banks did not disclose complete information about the line yet, so there might be more to come (or more than meets the eye, perhaps?).
There does seem to be room in the app market for more beauty apps, and an app that’s put out by none other than Tyra Banks (that might include some beauty secrets and such) may have a niche market somewhere. For now, though, it’s hard to see what Tyra’s new venture is really all about.