Hi Business Besties. Here’s what we’re covering today.

Phoebe Gates and Sophia Kianni just raised $35 million to build AI shopping app, Phia. 

Phoebe is Bill Gates’ daughter, and people have a lot of thoughts about that. 

My DMs were flooded last week after we covered this fundraising news on the Female Founder World Instagram. We shared some clips from my interview with Phoebe and Sophia a few months back at Female Founder World Summit, and a carousel about their story. 

Many of you felt we shouldn’t be platforming the raise, that a billionaire’s daughter wasn’t a “real” founder, and some even called it insulting to those of us in the trenches building our companies with zero connections or backup plan. 

I sat back, watched the messages flood in, and went for a walk to decide how I feel and think about this.

After a few blocks I decided this: I understand how destabilizing it is to pour your safety net money into your business and not know if you’ll ever see it again. I’ve felt that gut punch when you see someone infinitely more connected and wealthy than you land the deals and investors you’ve been working towards. 

But.

If we want to build influence, wealth, and a big business or life, I believe we need to listen to and learn from people who live in that world. 

Phoebe and Sophia are very smart. I learned a lot from interviewing them and studying their story. So, I’ve decided to highlight what Phoebe and Sophia shared at Summit. There’s some really good advice here about leveraging your voice as a founder, and how to use collaborations to grow on social media. 

I love that so many of you are invested enough in what we’re co-creating at Female Founder World to message me when our content feels off base. I also hope that you take what you need from Phia’s story, and find something that is helpful:

Sophia and Phoebe met in college where Sophia was studying to become a lawyer and Phoebe to become a doctor. Except, they never became doctors or lawyers and started Phia, an AI shopping app, instead.

In 10 months since launch, Phia has hit 1 million users and partnered with more than 6,200 retail brands.

Two things, in addition to a really strong product, fuel this growth: content and collaborations.

Founder-led content dominated Phia’s social media during the first few months post-launch. Phoebe and Sophia built an audience of 2M+ followers and generated 430M+ views across their own platforms.

“Big brands can smoke you with their ad dollars, but you have yourself, and people want to relate to a founder.” - Phoebe Gates

Phia uses Instagram’s collaboration feature to co-create content with accounts their ideal audience follows. This has helped increase the brand’s reach in a big way.

To land collab partners, Phoebe and Sophia recommend you DM as many aligned accounts as you can to pitch content collaborations on Instagram. Obviously, not all of us have an iconic name to open doors, but I’ve personally seen the power of Instagram collabs through our own social media strategy at Female Founder World, and know this stuff works.

When you’re pitching a collaboration post partnership, it can cinch the deal if you or someone on your team can put yourself forward as talent in the content. Sophia and Phoebe suggest thinking about collab content, and all content, like a TV show with serialized themes.

Each post that Phia produces is also very clearly mapped to one of two goals: Reach or app downloads. They’re data-driven in their approach to content marketing and iterate based on what makes the biggest impact against those two objectives.

Watch Phoebe and Sophia on-stage at Female Founder World Summit here.

Live mentor calls are available exclusively to Female Founder World paid subscribers. Sign up here for $12.99 per month and bring your questions to the next session.

Tuesday, Feb 3 at 5:00 PM ET - Mentor Call With Kelly Parker, Launch Grow Exit

This conversation is for anyone building a business they want to sell one day. Kelly Anne Parker bootstrapped Founder of Send Ribbon, a corporate gifting business that was acquired in 2020 by UrbanStems. Now she advises women on how to exit their companies. Come ready with questions about product-market fit, go-to-market strategy and early-stage to acquisition.

Tuesday, Feb 17 at 4:00 PM ET - Mentor Call With Libby Leffler, First

Libby Leffler is the founder of First, a tech platform making prenups as easy as ordering coffee. Before launching First, Libby scaled teams at Google, Facebook (as Sheryl Sandberg’s first chief of staff), and SoFi. Bring your questions about building in fintech, creating trust in taboo categories, and quitting a corporate job to build a business.

FUNDING: Audrey Gelman, who first built coworking space The Wing, has landed investment from Female Founders Fund for her new business, The Six Bells. The Six Bells Countryside Inn is a physical inn, tavern and shop in upstate New York and part of a new kind of hospitality brand that blends narrative, commerce, and escape in a way that feels both transportive and deeply human. I’m fascinated by this story as a former member of The Wing. I was there when the women’s coworking space scaled fast and then abruptly closed in 2022. It was one of the first times I saw a female founder be cancelled on social media in real time, and it made me deeply anxious about building my own business in public. It says a lot about the cultural moment we’re in right now to see Audrey back building again. Audrey is also undoubtedly a skilled world-builder, and we’ll get a masterclass in brand and community-building watching her scale up this new venture.

DEALMAKING: A JPMorgan beauty banking leader who helped broker Hailey Bieber’s $1 billion sale of Rhode to e.l.f. Beauty predicts more high-growth beauty brands will be acquired in 2026. She says that when it comes to an acquisition, a brand’s social engagement is incredibly important, but it's only one part of the picture that a buyer (like e.l.f.) considers: “Buyers are ultimately looking for a powerful identity. They ask: How differentiated is the brand voice? How defensible is it? Does it engender consumer loyalty and advocacy? You then want to see that translate into the business itself—a financial profile that delivers consistent growth and demonstrates durability.” she said.

BEAUTY: Valued at $1B in 2018, Pat Mcgrath Labs has filed for bankruptcy. This process allows a company to keep trading while it reorganises its debts and business structure, rather than shutting down entirely. It’s a process designed to give struggling companies time to get back on track and, ideally, return to profitability. Pat McGrath Labs will now follow a court-approved plan to get its finances figured out while still selling products and paying staff and key suppliers. For consumers, this probably means the brand will focus on profitability and likely raise its prices.

FOOD: Goop Kitchen is coming to New York! Gwyneth Paltrow’s clean cafe (and one of our favorite things about LA) is coming East this summer.

CELEB FOUNDERS: Sydney Sweeney launched SYRN, an intimates line in 44 sizes and four style personas. Most pieces are priced under $100.

FASHION: Saks Global has filed for bankruptcy. Saks Global is the owner of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.

I asked one of the world’s biggest money podcasters about her personal finances and to break down how she built her businesses. 

Victoria Devine, creator of She’s On The Money and Zella, reaches millions of women every month through her media and education company, She also built a thriving mortgage brokerage business. But, when she started this journey, she was $40,000 in debt and working a corporate job.

In this episode we talk about:

If you want to build wealth, build a business, or just finally feel in control of your finances, this episode is a must-watch.

After selling more than 80 million products and managing a team of 110 employees, Angela Vranich has some thoughts on entrepreneurship.

Angela’s the founder of baby food brand Little Spoon and she’s on the show this week talking about how to to build a business from scratch and turn it into your legacy.

Watch now on Spotify, YouTube, or wherever you get podcasts.

P.s. Female Founder World Summit is coming back for 2026 and I’m already planning your speaker lineup. Hit reply to let me know who you want to see on stage in New York this year. — Jasmine x