Wednesday, July 20, 2016
Dollar Shave Club Acquired For $1 Billion By Unilever
In another, stunning exit for Southern California's technology startup community, Los Angeles-based Dollar Shave Club has been acquired from a reported $1 billion by Unilever. Dollar Shave Club operates a subscription, razor and toiletries accessory business targeted at men. Unliver did not disclose terms of the deal, but said the deal is expected to close in Q3. The deal is a huge win for Southern California's e-commerce and subscription market. Dollar Shave Club was venture backed by Andreessen Horowitz, Battery Ventures, Comcast Ventures, Dragoneer Investment, Felicis Ventures, Forerunner Ventures, Kleiner Perkins Caufield and Byers, New World Ventures, Science Inc., Shasta Ventures, Technology Crossover Ventures, and Venrock Associates. The company had raised around $147M in total funding. The exit is also a huge win for startup studio Science, Inc., led by former MySpace CEo Mike Jones, which seeded Dollar Shave CLub back in 2012.