Viral Startup Sensation Dollar Shave Club Valued at $615 Million
The startup sells $1 razors and grew rapidly because of a viral video campaign.
The Dollar Shave Club is now valued at $615 million, as the Los Angeles-based company continues to garner viral success in the wake of its 2012 YouTube marketing campaign.
The startup sells razors at prices starting at $1 a month plus shipping. A video promoting the company with the slogan "Our blades are f—king great" launched three years ago and has more than 19 million views on YouTube. The video mocks how expensive other shaving products are and how painful shaving can be.
“We have 2 million members that get a shipment every month or every other month,” CEO Michael Dubin tells the Wall Street Journal. “Men’s grooming is exploding and we think we have a role to play.”
In 2014 the company's sales totaled $65 million and this year it aims to reach above $140 million, according to Dubin. The WSJ reports the company just closed a $75 million funding round. Dollar Shave Club began advertising on television last year, in addition to their online ads. In addition to razors it sells shaving cream, hair gel and butt wipes called "One Wipe Charlies."