Why Silicon Valley VC Firms Fund Online Retailers Like Dollar Shave Club
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Stance, a maker of luxury socks, has raised $86 million. Dollar Shave Club, a grooming company that supplies subscribers with razors and moistened bathroom wipes, has amassed more than $160 million. And the Honest Co., actress Jessica Alba’s home-care brand known for its plant-based diapers, has scored $222 million. The three businesses make consumer goods, yet they’re all backed by heaps of venture capital — the type of funding that fuels the tech world. So why are the biggest investors in technology backing firms whose tech prowess amounts to little more than a nifty website and a social-media team?