Here’s the biggest exit for a subscription service, as reported by Business insider
Unilever is making an investment in the on-demand space,announcing Wednesday that it had agreed to buy Dollar Shave Club. While specific financial terms of the deal were not disclosed, Fortune, which first reported the deal, put the sales figure at $1 billion, and it has been said that Dollar Shave Club CEO Michael Dubin will remain in his position.
Fortune said the new relationship with Unilever was expected to bring a “unique male grooming perspective” into a company that perhaps longs for a bit of innovation. Dollar Shave Club has 3.2 million members and in 2015 counted a turnover of $152 million and expects this year to close at $200 million.
Launched in March 2012, Dollar Shave Club emerged onto the scene with a simple proposition and a very viral video on YouTube. The company specializes in providing high-quality razors for just a few dollars a month. Eventually the company branched out into other areas relating to the bathroom including body wash, skin protection, lip balm, shave butter, and durable butt wipes.
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