Recode in aviva promotional code an interview on Tuesday evening.
We are excited to be part of the family.
No financial terms were disclosed, but a source close to the deal tells Fortune that Unilver is paying 1 billion in cash for the Santa Monica-based business.
Unilever is an Anglo-Dutch multinational consumer goods company co-headquartered in Rotterdam, Netherlands, and London, United Kingdom.On July 19, 2016, Dollar Shave Club was acquired by Unilever for a reported 1 billion in cash.Unilver announced on Tuesday evening that it is getting into the razor business, by agreeing to acquire Dollar Shave Club.Unilever announced on Tuesday evening that it is getting into the razor business, by agreeing to acquire Dollar Shave Club.The membership service first launched March 6, 2012, via a video that went viral.13 The video attracted an unanticipated amount of traffic, that crashed the company's server in the first hour.The idea at the time was that Kruythoff would potentially take an advisory role with Dollar Shave Club, or Unilever might invest in the startup.But he did a really great job convincing us of a few things, Dubin said, including how ambitious and aggressive and innovative they are and the economies of scale they can bring in a lot of different areas.The startup has raised more than 160 million in total, from venture capital investors including Venrock, Forerunner Ventures and Pritzker.Dont overpay for razors get them delivered to your door with Dollar Shave Club.Unilever Believed to be paying 1 billion for the Santa Monica based business.Unilever owns personal care brands such as Axe and Dove, in addition to a bevy of household names across other categories.It delivers razor blades on a monthly basis and offers additional grooming products for home delivery.Dollar Shave Club was most recently valued at just over 600 million when it raised 75 million last summer.Founded in 2011 by Michael Dubin with the backing of the startup incubator Science, the company was projecting pge washer rebate 2013 more than 200 million in revenue for 2016.Unilever paid 1 billion in cash for the Venice, Calif.-based company, according to two people close to the startup.Since the membership launch, the company has acquired 2 million subscribers.DSC couldnt be happier to have the worlds most innovative and progressive consumer-product company in our corner, Dubin said in a prepared statement.
I just built up a trust with this guy, Dubin added.