Unilever today has signed an agreement to buy Dollar Shave Club for reportedly $1 billion. Terms of the transaction were not disclosed.
Founded in 2012 by Mark Levine and Michael Dubin, the California-based Dollar Shave Club (DSC) burst into the scene with viral video on YouTube and a simple proposition: high-quality razors for just a few dollars a month.
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The company expended to full male grooming lifestyle brand including body wash, skin protection, lip balm, shave butter, and durable wipes – straight to consumers by mail. The company has grown into 3.2 million members within three years.
In 2015, the company had turnover of $152 million and is on track to exceed $200 million in turnover in 2016.
“In addition to its unique consumer and data insights, Dollar Shave Club is the category leader in its direct-to-consumer space, ” said Kees Kruythoff, President of Unilever North America. “We plan to leverage the global strength of Unilever to support Dollar Shave Club in achieving its full potential in terms of offering and reach.”
Michael Dubin, will continue to serve as CEO of DSC.
Subject to regulatory approval, the transaction is expected to close during the third quarter.
ןnvestors in Dollar Shave Club include Comcast Ventures, Airbnb, Andreessen Horowitz, Kleiner Perkins Caufield & Byers, Felicis Ventures, Cowboy Ventures, Battery Ventures, Shasta Ventures, Technology Crossover Ventures, Forerunner Ventures, and Venrock.