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	<title>GigaOM &#187; Dollar Shave Club</title>
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		<title>GigaOM &#187; Dollar Shave Club</title>
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		<title>Dollar Shave Club raises $9.8 million for international expansion</title>
		<link>http://gigaom.com/2012/11/01/dollar-shave-club-raises-9-8-million-for-international-expansion/</link>
		<comments>http://gigaom.com/2012/11/01/dollar-shave-club-raises-9-8-million-for-international-expansion/#comments</comments>
		<pubDate>Thu, 01 Nov 2012 11:00:38 +0000</pubDate>
		<dc:creator>Eliza Kern</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[David Pakman]]></category>
		<category><![CDATA[Dollar Shave Club]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[Kleiner Perkins]]></category>
		<category><![CDATA[Mark Levine]]></category>
		<category><![CDATA[Venrock]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=579504</guid>
		<description><![CDATA[Dollar Shave Club, the seemingly too-good-to-be-true promise of razors every month for only $1, has raised almost $10 million in a Series A funding round for international expansion (with Canada to start), and growth into other men's product verticals, although they wouldn't say which ones.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=579504&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p>The company started with a simple premise &#8212; there&#8217;s no reason razor blades should cost so much &#8212; and managed to create a viral marketing video that catapulted their company into relative mainstream fame (or at least among people familiar with YouTube). But what started with a viral video is now becoming big time business, as the <a href="http://www.dollarshaveclub.com/" target="_blank">Dollar Shave Club</a> plans to announce Thursday that they&#8217;ve raised $9.8 million in a Series A funding, with plans to expand to Canada and possibly to other men&#8217;s product verticals.</p>
<p><a href="http://gigaom.com/2012/11/01/dollar-shave-club-raises-9-8-million-for-international-expansion/screen-shot-2012-10-31-at-5-17-59-pm/" rel="attachment wp-att-579506"><img  title="Screen Shot 2012-10-31 at 5.17.59 PM" alt="" src="http://gigaom2.files.wordpress.com/2012/10/screen-shot-2012-10-31-at-5-17-59-pm.png?w=300&#038;h=257" height="257" width="300" class="alignleft size-medium wp-image-579506" /></a>What those new verticals are, the company would not say, just that they&#8217;re going to find &#8220;other ways to make guys lives easier,&#8221; CEO Michael Dubin said. But they&#8217;ve gained attention from some of Silicon Valley&#8217;s most prominent investors: The round was led by<a href="http://www.venrock.com/" target="_blank"> Venrock</a> (<a href="http://www.venrock.com/#/team/?item=88" target="_blank">David Pakman</a> will join Dollar Shave&#8217;s board), and the company raised an earlier seed round co-led by Kleiner Perkins and Forerunner Ventures, as well as Andreessen Horowitz, Shasta Ventures and Felicis Ventures.</p>
<p>The company, <a href="http://www.prweb.com/releases/2012/3/prweb9255443.htm" target="_blank">which launched this spring</a>, provides its subscribers with razors every month, starting at $1 plus shipping, and giving customers the option of scaling up their subscription to higher price points. Dubin said they were inspired to start the company because they didn&#8217;t want women to have all the fun in e-commerce.</p>
<p>&#8220;Guys don’t have much,&#8221; he said.  &#8221;Girls get to have all the fun.&#8221;</p>
<p>Dubin said the company really got big <a href="http://www.youtube.com/watch?v=ZUG9qYTJMsI" target="_blank">after they released their video this spring</a>, which now has more than seven million views on YouTube.</p>
<p>&#8220;We certainly saw an enormous amount of traction after the video. It actually crashed our site for a few hours,&#8221; Dubin said. &#8220;Sales were thousands of percent higher before they launched the video.&#8221;</p>
<p>Dubin said they had trouble keeping up with distribution and requests after they saw the dramatic increase, but that they moved their distribution center out of Southern California and things got better.</p>
<p>&#8220;Obviously everyone has scaling pains and we were no exception,&#8221; he said, noting that they&#8217;ve resolved those issues now. Dubin said the money would be used primarily for hiring, and the company is expanding to Canada on Thursday, where the cheapest option subscription option will be $3.50 per month, including shipping.</p>
<p>Here&#8217;s the video that sent Dollar Shave Club toward success:</p>
<span class='embed-youtube' style='text-align:center; display: block;'><iframe class='youtube-player' type='text/html' width='604' height='370' src='http://www.youtube.com/embed/ZUG9qYTJMsI?version=3&#038;rel=1&#038;fs=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;wmode=transparent' frameborder='0'></iframe></span>
<p><em>Correction: This story has been updated to reflect that Dollar Shave Club&#8217;s CEO is named Michael Dubin, not Mark Levine.</em></p>
<br />  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=579504&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" /><p><a href="http://pubads.g.doubleclick.net/gampad/jump?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=280060"><img src="http://pubads.g.doubleclick.net/gampad/ad?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=280060" /></a></p><p><strong>Related research and analysis from GigaOM Pro:</strong><br />Subscriber content. <a href="http://pro.gigaom.com/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=579504+dollar-shave-club-raises-9-8-million-for-international-expansion&utm_content=elizakern">Sign up for a free trial</a>.</p><ul><li><a href="http://pro.gigaom.com/2012/07/connected-consumer-second-quarter-2012-analysis-and-outlook/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=579504+dollar-shave-club-raises-9-8-million-for-international-expansion&utm_content=elizakern">Takeaways from connected consumer&#8217;s second quarter</a></li><li><a href="http://pro.gigaom.com/2012/07/new-strategies-in-consumer-media-cloud-storage/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=579504+dollar-shave-club-raises-9-8-million-for-international-expansion&utm_content=elizakern">The evolution of consumer-media cloud storage</a></li><li><a href="http://pro.gigaom.com/2012/04/newnet-q1-advertising-commerce-and-discovery-dominate/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=579504+dollar-shave-club-raises-9-8-million-for-international-expansion&utm_content=elizakern">Social media in Q1: commerce and discovery dominated</a></li></ul>]]></content:encoded>
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		<title>With startup True&amp;Co, big data meets bra shopping</title>
		<link>http://gigaom.com/2012/05/30/with-startup-trueco-big-data-meets-bra-shopping/</link>
		<comments>http://gigaom.com/2012/05/30/with-startup-trueco-big-data-meets-bra-shopping/#comments</comments>
		<pubDate>Wed, 30 May 2012 16:25:58 +0000</pubDate>
		<dc:creator>Stacey Higginbotham</dc:creator>
				<category><![CDATA[Amazon]]></category>
		<category><![CDATA[Dollar Shave Club]]></category>
		<category><![CDATA[Startups]]></category>
		<category><![CDATA[True&Co]]></category>
		<category><![CDATA[Warby Parker]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=526899</guid>
		<description><![CDATA[Technology has helped bring about a retail shift that now means I can buy consumer goods without ever leaving my house, shaving gear without ever thinking about it and now, thanks to True&#038;Co, bras without ever having a tape measure wrapped around my chest.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=526899&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p><a href="http://gigaom2.files.wordpress.com/2012/05/bras-e1338390858294.jpg"><img  title="bras" src="http://gigaom2.files.wordpress.com/2012/05/bras-e1338390858294.jpg?w=300&#038;h=199" alt="" width="300" height="199" class="alignleft size-medium wp-image-526916" /></a>Technology has helped bring about a retail shift that now means I can buy my <a href="http://www.amazon.com/">consumer goods without ever leaving my house</a>, my husband&#8217;s <a href="http://www.dollarshaveclub.com/">shaving gear</a> without ever thinking about it and now, thanks to <a href="https://trueandco.com/">True&amp;Co</a>, my bras without ever having a lady in a department store wrap a tape measure around my chest. I love the Internet.</p>
<p>True&amp;Co, which debuts Wednesday at the <a href="http://allthingsd.com/conferences/d/d10/about/">D10 conference</a> in Rancho Palos Verdes, Calif., is using predictive modeling and a simple online questionnaire to help women find their perfect bra. Backed by $2 million from First Round Capital, SoftTech VC, Aileen Lee, Softbank Capital and former LinkedIn executive Ellen Levy, the startup was formed last year by two women who wanted to take the discomfort and questions out of buying intimate apparel. To use the service, a woman goes online, answers about five questions about her current bra and fit, and then is presented with a page of results.</p>
<p><a href="http://gigaom2.files.wordpress.com/2012/05/quizpage2.jpg"><img  title="QuizPage2" src="http://gigaom2.files.wordpress.com/2012/05/quizpage2.jpg?w=300&#038;h=267" alt="" width="300" height="267" class="alignright size-medium wp-image-526945" /></a>From those results she chooses three to purchase and the site chooses two. All bras cost $45 and any and all can be returned if the recipient isn&#8217;t satisfied with them. So far customers have tended to keep three out of the five bras. The site refines the customer&#8217;s profile based on the bras she keeps so later shopping trips to True&amp;Co yield even better results. It&#8217;s a model and experience similar to buying eyeglasses at <a href="http://www.warbyparker.com/?gclid=CKjIzO-oqLACFYRgTAodC2mZDQ&amp;">Warby Parker</a>.</p>
<p>The founders pitch this as a big data story, but it&#8217;s really a story about several trends converging. First is the comfort most folks have with buying things online and now taking that comfort to the next level&#8211;personalization. There&#8217;s also a sourcing component here that is a pretty powerful statement on how the web makes niche products available to a new audience. True&amp;Co is finding a plethora of bras from boutique companies around the world and making them accessible to the wider public.</p>
<p>And finally there&#8217;s the big data element &#8212; only it&#8217;s not really about the size of the data, but about the ability to analyze data cheaply that&#8217;s notable. Aarthi Ramamurthy, head of product and co-founder of True&amp;Co, who was a former product manager at Microsoft and Netflix, explains that the secret to the service is three different predictive models combined.</p>
<p>The first helps determine what bra would best fit a woman by asking her a series of questions about her current size, how her bra feels and how she thinks it looks. Another predictive model compares how different bra manufacturers&#8217; sizes differ and normalizes the woman&#8217;s ideal size across the different brands. The third recommends actual bras.</p>
<p>So while the data sets themselves aren&#8217;t large, True&amp;Co is taking advantage of the cheaper processing and ability to analyze a customer&#8217;s data quickly, as well as advances in recommendation algorithms to offer a new retail experience. The plan is to continue refining the quiz and predictive models to ensure customers are even more likely to keep their chosen bras as well as to add options for customers who are looking for a specific bra.</p>
<p>Over time the site plans to add matching panties and branch into other types of clothing. Swimsuits seem like a natural fit, as do jeans. In the meantime, I&#8217;m going to see if Netflix-style recommendations can offer me a better bra. I&#8217;ll let you know.</p>
<br />  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=526899&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" /><p><a href="http://pubads.g.doubleclick.net/gampad/jump?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=5984"><img src="http://pubads.g.doubleclick.net/gampad/ad?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=5984" /></a></p><p><strong>Related research and analysis from GigaOM Pro:</strong><br />Subscriber content. <a href="http://pro.gigaom.com/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=526899+with-startup-trueco-big-data-meets-bra-shopping&utm_content=shigginbotham">Sign up for a free trial</a>.</p><ul><li><a href="http://pro.gigaom.com/2012/04/infrastructure-q1-cloud-and-big-data-woo-the-enterprise/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=526899+with-startup-trueco-big-data-meets-bra-shopping&utm_content=shigginbotham">Infrastructure Q1: Cloud and big data woo enterprises</a></li><li><a href="http://pro.gigaom.com/2012/03/a-near-term-outlook-for-big-data/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=526899+with-startup-trueco-big-data-meets-bra-shopping&utm_content=shigginbotham">A near-term outlook for big data</a></li><li><a href="http://pro.gigaom.com/2012/02/facebooks-ipo-filing-the-opening-shot-heard-round-the-world/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=526899+with-startup-trueco-big-data-meets-bra-shopping&utm_content=shigginbotham">Facebook&#8217;s IPO filing: ideas and implications</a></li></ul>]]></content:encoded>
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