Dollar Shave, a startup that delivers razors and other personal grooming products straight to consumers by mail has been bought by Unilever for USD1 billion.
The company was founded by Michael Dubin. According to people with the knowledge of the matter, Unilever looks to further expand into the male grooming business with the acquisition.
The five-year-old-e-commerce company sells disposable razors and other male grooming products directly to consumers for as little as $1 a month.
Founder, Michael Dubin whose’s company came to global attention after he posted a humorous marketing video about shaving on YouTube that quickly went viral said he was excited by the deal, which will help them expand into new markets.
Dollar Shave Club has 3.2 million members, but is yet to make profit.
Dollar Shave Club, which now also sells male personal wash, skincare and hair styling products, logged $152m in turnover last year and is on “on track” to exceed $200m this year. The firm was valued at around $615m following its latest venture capital funding round in November.
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