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May 29, 2022

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FTC sues to block P&G’s acquisition of Billie, a razor startup for women

The Federal Trade Commission has sued to block Procter & Gamble’s acquisition of Billie, a NY-based startup that sells razors and body wash. In the notice, the FTC alleged that the merger would “eliminate innovative nascent competitors for wet shave razors” to the loss of consumers. Billie was founded in 2017 with the goal of fighting the “pink tax” on goods marketed to women, including razors and body wash. It went up against companies like P&G and Edgewell Personal Care by offering high-quality and cheap razors. The company announced its intent to be acquired by P&G after raising just $35 million in venture capital in June. Billie, which wants to eliminate the “pink tax,” closes a $6M seed round for its razor subscription service “As its sales grew, Billie was likely to expand into brick-and-mortar stores, posing a serious threat to P&G. If P&G can snuff out Billie’s rapid competitive growth, consumers will likely face higher prices,” Ian Conner, direc...

Homebase raises $70M for a team management platform aimed at SMBs and their hourly workers

Small and medium enterprises have become a big opportunity in the world of B2B technology in the last several years, and today a startup that’s building tools aimed at helping them manage their teams of workers is announcing some funding that underscores the state of that market. Homebase , which provides a platform that helps SMBs manage various services related to their hourly workforces, has closed $70 million in funding, a Series C that values the company at between $500 million and $600 million, according to sources close to the startup. The round has a number of big names in it that are as much a sign of how large VCs are valuing the SMB market right now, as it is of the strategic interest of the individuals who are also participating. GGV Capital is leading the round, with past backers Bain Capital Ventures, Baseline Ventures, Bedrock, Cowboy Ventures, and Khosla Ventures also participating. Individuals meanwhile include president of Focus Brands Kat Cole, Jocelyn Mangan (a boa...

Dance launches its e-bike subscription service in Berlin

German startup Dance is launching its subscription service in its hometown Berlin. For a flat monthly fee of €79 (around $93 at today’s exchange rate), users will get a custom-designed electric bike as well as access to an on-demand repair and maintenance service. Founded by the former founders of SoundCloud and Jimdo , the company managed to raise some significant funding before launching its service. BlueYard led the startup’s seed round while HV Capital (formerly known as HV Holtzbrinck Ventures) led Dance’s €15 million Series A round, which represented $17.7 million at the time. E-bike subscription service Dance closes $17.7M Series A, led by HV Holtzbrinck Ventures The reason why Dance needed so much capital is that the company has designed its own e-bike internally. Called the Dance One, it features an aluminum frame and weighs around 22kg (48.5lb). It has a single speed and it relies on its electric motor to help you go from 0 to 25kmph. And the best part is that you ...

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