Melinda French Gates refused to invest in her daughter’s startup. Earlier this year, it faced cookie-stuffing allegations
Earlier this year, Phoebe Gates and Sophia Kianni’s $185 million startup , Phia, faced allegations of “cookie stuffing,” following a Bloomberg investigation . However, there’s one person who wasn’t involved in the controversy: Gates’s mother, Melinda French Gates , who refused to invest in the business. Last year, French Gates told the audience at E.l.f. Beauty’s Power of Women’s Sports Summit…
Earlier this year, the $185 million startup Phia faced allegations of "cookie stuffing," according to a Bloomberg investigation. However, Melinda French Gates, Phia's mother, was not involved in the controversy. French Gates, who is married to Bill Gates, refused to invest in the business, stating that she wouldn't put money into it and that Phia got capitalized not because of her contacts or her.
Instead, French Gates saw the rejection as an opportunity for Phia to grow and develop personally. The startup, founded by French Gates and her Stanford roommate Sophia Kianni, launched in April 2025 and faces high-stakes accusations of cookie stuffing. Phia has denied wrongdoing and has taken steps to rebuild its codebase, hire a new head of compliance, and bring on senior leaders in partnerships and engineering.
Despite not receiving funding from Bill Gates, Phia raised over $43 million through other investors, including Kris Jenner, whose family members also invested in the startup.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
