Tyra Banks takes her business empire online

Tyra Banks has decided to take her business empire online.

She has signed a deal to create a new fashion and beauty website.

Her company 'Bankable' is joining hands with Los Angeles-based Demand Media for an internet venture, which will see her launch a website packed with tips, advice and special features, including demonstration videos and cell phone applications.

"I have always been passionate about harnessing my experience and knowledge in the beauty and fashion businesses and creating an engine that would provide my audience with inspirational and instructional content to help them look and feel their best," the Daily Star quoted her as saying in a statement.

According to the New York Post, the terms of the deal have not been disclosed as yet, but the 'America's Next Top Model' star will receive shares of Demand Media.