Birchbox is a New York City-based online monthly subscription service that sends its subscribers a box of four to five selected samples of makeup, or other beauty related products. These products include skincare items, perfumes, organic based products and various other cosmetics.
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History
Birchbox was established in September 2010 by Katia Beauchamp and Hayley Barna, both graduates of Harvard Business School. In October 2010, Birchbox's initial funding began with $1.4 million in seed funding from investors including First Round and Accel Partners. In August 2011, Birchbox received $10.5 million in Series A Funding. In April 2014, Birchbox raised $60 million in Series B funding, led by Viking Global Investors, and saw participation from First Round Capital, Accel Partners, Aspect Partners, and Consigliere Brand Capital. In July 2014, Birchbox opened its first brick-and-mortar store in New York's Soho neighborhood. As of 2014, the company was valued at $485 million.
As of September 2015, Birchbox had over a million subscribers and 300 employees. In 2015, co-founder Hayley Barna stepped down from the co-CEO role at the company and is joining the First Round Capital firm as a venture partner. In January 2016, the company cut 15% of its staff. As of June 2016, it had raised a total of $71.9 million in funding.
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Membership
As of September 2015, Birchbox had over a million subscribers and more than 800 brand partners. Birchbox's incentive is that the consumer will choose to purchase the full-sized product of whatever sample they've grown to like from the Birchbox website afterward. As of 2016, about 50% of box subscribers went on to make full-size purchases.
After subscribing, the customer takes a survey called a "beauty profile" that aims to customize their future selections to better suit their preferences.
Birchbox Points
Birchbox points are awarded for purchasing full-size versions of products (both online and in-store), through the referral of others, and purchasing subscriptions as gifts to others. Until July 2016, subscribers could earn points by reviewing each product in their monthly box. From that month on, subscribers will receive points for their first five product sample reviews only.
Social commerce
In October 2014, Birchbox partnered with Soldsie to launch their first Instagram shop. The shop allows Instagram users interested in Birchbox products to purchase directly through Instagram by leaving a comment on a photo with the hashtag #birchboxcart.
Source of the article : Wikipedia
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