Dollar Shave Club shot to online fame in 2012 with a viral video that featured Dubin, a giant teddy bear and the tag line "Our blades are ******* great." Dubin later told CNBC that the video cost just $4,500 to make but was so successful that the company ran out of inventory without hours of it appearing on YouTube.
A second video, titled "Let's talk about #2" was released to promote the launch of "One Wipe Charlies," which are effectively baby wipes designed for men.
Dubin, who started the company with a friend's father, Mark Levine, will remain as CEO of Dollar Shave Club when it joins Unilever. He said in a statement that the company couldn't be happier with the deal.
"We have long admired Unilever's purpose-driven business leadership and its category expertise is unmatched," he said. "We are excited to be part of the family."
One of Dollar Shave Club's largest investors, venture capitalist and Venrock partner David Pakman, told CNBC that Unilever is good at buying companies because it generally leaves them alone.
"One of the things Unilever says is 'congratulations Dollar Shave Club, you just acquired Unilever. You now have the resources of Unilever to propel you but we're not going to tell you what to do,'" he said in an interview with "Power Lunch" Wednesday.
Pakman, who said his firm made a tenfold return on its investment with the acquisition, said Dollar Shave Club has been so successful because it knows how to appeal to consumers.
"This is a company that created new media products, new media advertising that reached consumers in a very conversational way — built a huge amount of mindshare for a very low amount of money."
Dollar Shave Club was one of CNBC's Disruptor 50 in 2015.
This story has been updated to reflect that the value of Dollar Shave Club was reportedly $539 million.
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