Unilever has bought US start-up Dollar Shave Club for a reported $1bn (£764m) in cash to compete in the male grooming market.
The four-year-old e-commerce company sells disposable razors and other male grooming products directly to consumers for as little as $1 a month.
Dollar Shave Club has 3.2 million members - but has yet to make a profit.
Founder Michael Dubin, who will remain as chief executive, said he was "excited" by the deal.
His company came to global attention after he posted a humorous marketing video about shaving on YouTube. The video went viral, crashing the company's server within an hour.
It now operates in the United States, Australia and Canada.
But the company is facing legal action from rival Gillette, owned by Procter & Gamble, seeking unspecified damages. It claims that the coating used to strengthen its blades infringes on a Gillette patent.