Today, the Los Angeles-based subscription box company FabFitFun said it has landed a whopping $80 million in Series A funding led by Kleiner Perkins. The brand is known for its quarterly box of lifestyle products, ranging from makeup to fitness tools, that costs $49.99, which customers can customize. FabFitFun launched in 2010, and had only taken $6.5 million in capital until this point. This large amount of investment signals the brand’s ambitions to be a dominant force in the subscription economy, and also expand beyond the box to become a content platform.
The subscription companies that have done well have effectively become content companies. Beauty discovery brand Ipsy, for instance, relies on an army of social media influencers to keep customers plugged into the brand. For its part, FabFitFun has a lifestyle magazine that goes in every box, a live-stream video channel that runs on Facebook every day, and a forum for members to connect. All of this has helped it grow to more than 1 million members. With this new influx of cash, FabFitFun will be poised to vastly increase this customer base.
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