Shan Li reported in Saturday’s Los Angeles Times that, “Alex Janckila, a software engineer at Dollar Shave Club, was sporting something a bit unusual for an employee of a razor company: a five o’clock shadow…[J]anckila, who began working at the company 11 months ago, wasn’t the only one smiling Thursday. For employees at Dollar Shave Club, this week is the fulfillment of a dream that many start-ups strive for, but few achieve: a $1-billion payday.
“Unilever, the London consumer products giant, said Tuesday that it would acquire the subscription e-commerce site, which mails affordable blades to customers every month.”
The article stated that, “Although Dollar Shave Club declined to disclose the financials, venture capitalists said there are probably dozens of newly minted millionaires working at the company’s Marina del Rey headquarters.”
The L.A. Times article explained that, “Founders who have been through an acquisition said it’s hard to describe the satisfaction after nurturing an idea from conception to success.
“Nikao Yang, co-founder of Los Angeles-based AdColony, said there was a great feeling of validation when the video ad platform was acquired in 2014 for $350 million. After all, he said, about nine in 10 start-ups fail, and even fewer make it into the big leagues.
“‘It’s like childbirth or riding a bike for the first time,’ Yang said. ‘You don’t really know the feeling until it happens.'”
