Dollar Shave Club, a pioneer in online direct-to-consumer subscription businesses, will be acquired by Unilever for $1 billion. The company expects to generate approximately $200m in revenue in 2016. CEO Michael Dubin plans to stay on.
Dollar Shave Club founder and CEO Michael Dubin will stay on, and DSC will continue to operate autonomously though the CEO will now answer to a “trio of Unilver execs.” In a Recode interview, Dubin noted the allegedly billion-dollar deal came out of discussions surrounding Unilever possibly investing since the business was not looking for a buyer at the time. Though Dollar Shave Club is not yet profitable, Dubin forecast in May that the service would be by the end of the year.