Su­per­model and talk-show host Tyra Banks will raise funds from out­side in­vestors next year for her self-funded cos­met­ics direct selling com­pany Tyra Beauty.
At the WSJDLive global tech­nol­ogy confer­ence, Ms. Banks dis­cussed her past fail­ures, in­clud­ing an ill-fated at­tempt to de­velop an app, and steps women can take to as­sert them­selves.
Every woman needs money  to “have to be in con­trol of her fu­ture, con­trol of her present so she can make de­ci­sions,” she said.
Ms. Banks’ com­pany, Tyra Beauty, re­lies on in­de­pen­dent sell­ers who earn com­missions much like Avon Prod­ucts Inc. or Mary Kay Cos­met­ics Inc.
The com­pany is grow­ing, she said. That means she’ll have to veer from her standard prac­tice of self-fund­ing her ven­tures.

She hasn’t previously taken outside investment. “Mine is a 100 percent entrepreneurial venture, no licensing,” she told Allure last October. “There’s no person

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