Dollar Shave Club: the little startup that could

Dollar Shave Club, the LA-based membership service that delivers affordable fresh razors to customers by mail, has proved that using humour, authenticity, and social media is a powerful way to connect with consumers. If launched a decade ago, the startup would not have survived against industry giants like Gillette and Schick, who dominate the $13 billion men’s shaving industry. But thanks to the power of the internet and social media, Dollar Shave Club is now best remembered as the startup that successfully launched on the strength of a single hilarious viral video on YouTube. The video, released in 2012, was so effective that 12,000 people signed up for subscription in the first 48 hours and eventually amassed more than 19 million views. Today, Dollar Shave Club has over 2 million subscribers and is now a legitimate threat to Gillette, who launched a similar subscription service last year. To protect its market position, Dollar Shave Club has closed a $75 million Series D round at a valuation of $615 million. The capital infusion will be used to introduce new products and hire more employees, according to its founder and CEO Michael Dubin.
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