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DollarShaveClub.com Grabs $1M Seed Round

       
LOS ANGELES, CA, New membership service delivering shave razors to its members for as low as $1 a month plus shipping, announced its launch out of private beta from Science Inc. and $1M in seed funding co-led by Kleiner Perkins Caufield & Byers and Forerunner Ventures.
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DollarShaveClub.com, a new membership service delivering high-quality shave razors to the doors of its members for as low as $1 a month plus shipping, today announces its launch out of private beta from Science Inc. and $1M in seed funding co-led by Kleiner Perkins Caufield & Byers and Forerunner Ventures.

DollarShaveClub.com's innovative model offers members regular monthly razor shipments, saving them as much as $300 per year on shaving. Other contributors to Dollar Shave Club's funding include Andreessen Horowitz, Shasta Ventures, Felicis Ventures, White Star Capital and investors Shervin Pishevar, Dennis Phelps, and David Honig.

"Why should we pay $15-$20 for overly fancy brand name shave tech? It's unnecessary," said Michael Dubin, CEO of DollarShaveClub.com. "We want to shake up the way America buys its razors and put an end to the frequent drug store trips and exorbitant prices that have become all too familiar. The shave game has gotten totally out of control and it's time someone brought sanity back to the price and the process."

Each Dollar Shave Club razor comes equipped with stainless steel blades, lubrication strips and a pivoting head. At launch, Dollar Shave Club members will be able to choose from three signature razors:
-The Humble Twin: a standard two-blade razor ($1/month, plus s+h)
-The 4x: a four-blade razor perfect for men's or women's hair removal needs ($6/month, shipping included)
-The Executive: a state-of-the-art six-blade razor ($9/month, shipping included)

A free razor handle comes with the first shipment and members can seamlessly upgrade and downgrade between razors whenever they choose.

Recent data from the U.S. National Association of Shoplifting Prevention underlines the high cost of shave razors and accessories. In their 2011 end of year report, razor blades were listed among the five most shoplifted items of the year alongside laptops, smartphones and high-end bottles of alcohol, among other expensive items.

"The men's and women's grooming market is worth $2.6 billion," said Science Inc. CEO and former MySpace CEO Mike Jones. "And big shave brands are charging too much for too little, which has created an opening for Dollar Shave Club to disrupt the market with a 'much cheaper, much easier' proposition while maintaining quality."

The company will introduce additional men's and women's grooming products before the end of the year.

About:
The Dollar Shave Club is an online membership club that delivers premium grooming products at unbeatable prices. With shave packages that start at $1 a month plus shipping, the company will soon expand to offer a suite of grooming products for men and women. Dollar Shave Club is backed by technology studio Science, Inc.

For more information about Dollar Shave Club, visit http://www.dollarshaveclub.com.
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