As a small business ourselves, The Wet Shaving Club understands the temptation offered by the possibility of a large cash infusion from venture capital that could “jump-start” things, and hit the “fast forward button” on our business plans. However, we have also witnessed plenty of these cash infusions go south quickly with many companies, in many industries.
Therefore, when we read past articles about The Angel Shave Club, and how they partnered with a venture capital firm that was going to “accelerate” their business, it did not take much imagination to figure out why they were knocking on our door trying to sell the business approximately seven months later.
We actually feel bad for the founder. It seems (from prior reviews and articles) that she had built a decent business with a loyal following, that was not only making decent money, but was serving a cause near to her heart.
But then, in early 2019, it is reported that she partnered with a VC firm and that they were going to help her “re-brand” and possibly “double sales” in 2019. Before the year was over, The Angel Shave Club was out of business.