Dollar Shave Club, the startup offering a subscription razor service that costs as little as $1 per month (plus shipping), has raised $9.8 million in Series A funding.
Co-founder and CEO Michael Dubin said the new round, which was led by Venrock, will allow the company to develop “the next iteration of Dollar Shave Club” and “to really grow into the lifestyle service” that he wants it to be. He didn’t get into too many details on that front — it sounds like the company has some big product news coming in the near future, and he didn’t want to give too much away ahead of time.
When the startup announced its initial funding back in March (a $1 million round from Kleiner Perkins Caufield & Byers, Forerunner Ventures, Andreessen Horowitz, Shasta Ventures, Felicis Ventures, White Star Capital, and others), Dubin told me his goal was to crate “one of the first online-only power brands” in personal grooming. He also said wanted to develop a strong relationship with members, for example by incorporating their feedback as the company moves into new product areas like shaving cream.
Asked about his bigger vision for the company moving forward, Dubin said, “The goal of Dollar Shave Club is making guys’ lives better primarily by making shaving better and having a lot of fun while doing it.”
On the fun side, the startup is probably best-known for its goofy video “Our Blades are F***Ing Great” (embedded below, in case you’ve forgotten), which is currently clocking more than 7 million views on YouTube and still makes me laugh whenever I watch it. When I complimented Dubin (who stars in the video) on the video’s popularity, it was clear that he’s proud of its success, but he said he was less than thrilled that he has been occasionally recognized at bars and elsewhere as a result.
Old Glory 2012, the latest promotional effort from the company doesn’t feature Dubin, but instead portraits of past presidents, asking visitors to vote on “Who Will Shave Our Great Nation?”
In addition to announcing funding, the service is expanding beyond the United States today by launching in Canada.
DollarShaveClub.com, a Los Angeles, CA-based new membership service delivers shave razors to its members. The company, backed by technology studio Science, Inc., delivers razors equipped with stainless steel blades, lubrication strips, and a pivoting head. At launch, members will be able to choose from three signature razors: The Humble Twin: a standard two-blade razor ($1/month, plus s+h) The 4x: a four-blade razor perfect for men’s or women’s hair removal needs ($6/month, shipping included) The Executive: a state-of-the-art six-blade razor ($9/month, shipping included)
DollarShaveClub.com, a Los Angeles, CA-based new membership service delivers shave razors to its members. The company, backed by technology studio Science, Inc., delivers razors equipped with stainless steel blades, lubrication strips, and a pivoting head. At launch, members will be able to choose from three signature razors: The Humble Twin: a standard two-blade razor ($1/month, plus s+h) The 4x: a four-blade razor perfect for men’s or women’s hair removal needs ($6/month, shipping included) The Executive: a state-of-the-art six-blade razor ($9/month, shipping included)
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