Tuesday, March 6, 2012
Dollar Shave Club Gets $1M To Disrupt The Razor Industry
Michael Dubin and Mark Levine have just one goal with their new startup: to totally disrupt the razor blade industry. Los Angeles-based Dollar Shave Club said this morning that it has raised $1M in a funding round, led by Kleiner Perkins and Forerunner Ventures, and also including Andreesen Horowitz, Shasta Ventures, and Felicis Ventures, along with angels Shevin Pishevar, Dennis Phelps, and David Hornig. The new startup, which spawned out of the walls of Science Inc., the business incubator and studio headed by former MySpace CEO Mike Jones, offers up a online, subscription service which delivers high quality razors to customers on a monthly basis.
The new company delivers a variety of razors, ranging from $1 a month for a twin blade razor to $9 a month for a six blade razor, and has plans to expand into such supplies as shaving cream and other shaving supplies. Dubin told socalTECH that the new startup is aimed at reducing the hugely expensive cost of brand name razor blades, and will supply both men and women with its products. The startup is the third, monthly subscription service to come out of Science; the group also recently launched subscription baby products site Wittlebee, and subscription underwear service MeUndies.