Ipsy
| Company type | Private |
|---|---|
| Industry | Beauty, Subscription service |
| Founded | 2011 |
| Founder | Michelle Phan, Marcelo Camberos, Jennifer Jaconetti Goldfarb |
| Headquarters | Santa Monica , United States |
Key people | Marcelo Camberos (CEO) |
| Products | Beauty subscription boxes, e-commerce beauty products |
| Parent | Beauty For All (BFA Industries) |
IPSY operates as a subscription service specializing in beauty products.
History
Founded in 2011, IPSY was established by YouTube beauty influencer Michelle Phan, alongside CEO Marcelo Camberos, formerly associated with Funny or Die, and Jennifer Jaconetti Goldfarb from Bare Escentuals. The company initially piloted its subscription concept via myglam.com in November 2011 before officially launching ipsy.com in September 2012, following the successful acquisition of $3.8 million through seed and Series A investments.
In May 2013, IPSY debuted Generation Beauty, an annual gathering designed to connect makeup brands, bloggers, and users. By 2016, the platform supported a network of 10,000 content creators producing monthly videos to promote the subscription service. Goldfarb highlighted their ambition to engage "hundreds if not millions of beauty content creators."
The year 2015 saw IPSY inaugurate Open Studios in Santa Monica, a collaborative workspace providing equipment and guidance to emerging nano creators and vloggers linked to the brand. During the same year, the company secured $100 million in Series B financing from TPG Growth and Sherpa Capital, placing its valuation near $800 million.
In 2017, IPSY broadened its portfolio by launching an e-commerce platform offering discounted beauty items exclusively for subscribers. Subsequent years saw the introduction of tiered subscription options: Glam Bag Plus (later rebranded as BoxyCharm) and Glam Bag Ultimate in 2018 and 2019, which featured a mix of full-size products and deluxe samples. In 2020, Glam Bag Ultimate was succeeded by Glam Bag X (later known as Icon Box), a quarterly curated collection containing 7-8 full-sized items endorsed by celebrities such as Gwen Stefani, Lisa Vanderpump, and Chrissy Teigen.
IPSY unveiled its inaugural in-house label, Complex Culture, in 2019, followed by launching the Madeby Collective brand incubator. In 2020, the company introduced Refreshments, a personal care line focused on vegan and cruelty-free products without parabens or allergens. Collaborations through Madeby Collective included partnerships with TikTok star Addison Rae for Item Beauty in 2020 and with singer Becky G for Treslúce Beauty in 2021.
October 2020 marked IPSY’s acquisition of BoxyCharm—the top provider of full-size beauty subscription boxes—for $500 million. This deal resulted in the formation of Beauty For All (BFA Industries), a parent entity overseeing both brands as separate operations. In February 2022, BFA Industries further raised $96 million from TPG Growth.
By 2023, IPSY and BoxyCharm consolidated under the IPSY brand umbrella, strengthening their presence and extending their international reach within the beauty subscription market.