Unilever buys Dollar Shave Club in megadeal
Consumer goods giant Unilever is paying a reported $1 billion to buy an online retail start-up that has yet to turn to profit.
Unilever PLC announced it is buying Dollar Shave Club, the razor delivery subscription service known for its irreverent brand positioning and viral You Tube videos. Terms of the deal were not announced, but The New York Times and other media outlets reported Unilever is paying $1 billion in cash for the scrappy company, which has yet to turn a profit but expects to do so by yearend.