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Illustration: Eniola Odetunde/Axios

Hollar, an e-commerce company that raised more than $75 million in VC funding, is expected to wind down soon, Axios has learned from multiple sources.

Between the lines: It's been a very tough month for direct-to-consumer startups, beginning with Casper Sleep's uninspired IPO and Monday's shutdown of SoftBank-backed Brandless.

  • Los Angeles-based Hollar launched in 2015 to help users find dollar store-like bargains on branded consumables, ranging from kitchen goods to toys to beauty products.
  • The company's co-founders were Brian Lee, who previously led ShoeDazzle and The Honest Company, and former Honest Co. executive David Yeom.
  • Hollar investors included Kleiner Perkins, Index Ventures, Pritzker Group Venture Capital, B Capital Group, Lightspeed Venture Partners, Greycroft, Comcast Ventures, Forerunner Ventures and Troy Capital Partners.

The big picture: Hollar's thesis was that dollar store denizens would buy multiple products at a time, thus alleviating pressure on shipping costs. But a source close to the situation says the unit economics never panned out.

The company is said to have started looking for a buyer late last year, and is in final negotiations with retailer Five Below, which would bring on more employees and at least some of the other assets.

Hollar's site and app are not expected to survive.

Axios has emailed Hollar and CEO Steve Oliver for comment, but has not yet heard back.

Go deeper:

Go deeper

In photos: Protesters rally for George Floyd ahead of Derek Chauvin's trial

Chaz Neal, a Redwing community activist, outside the Minnesota Governor's residence during a protest in support of George Floyd in St.Paul, Minnesota, on March 6. Photo: Kerem Yucel/AFP via Getty Images

Dozens of protesters were rallying outside the Minnesota governor's mansion in St Paul Saturday, urging justice for George Floyd ahead of former Minneapolis police officer Derek Chauvin's trial over the 46-year-old's death.

The big picture: Chauvin faces charges for second-degree murder and manslaughter over Floyd's death last May, which ignited massive nationwide and global protests against racism and for police reform. His trial is due to start this Monday, with jury selection procedures.

Biden says $1,400 stimulus payments can start going out this month

Photo: Samuel Corum/Getty Images

President Biden said Saturday that the Senate passage of his $1.9 trillion COVID relief package means the $1,400 direct payments for most Americans can begin going out later this month.

Driving the news: The Senate voted 50-49 Saturday to approve the sweeping legislation. The House is expected to pass the Senate's version of the bill next week before it heads to Biden's desk for his signature.