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Flash Site Lot 18 Raises $10 Million to Expand

June 2011
 
by Jim Gordon
 
The Flash Report
 
 
Lot 18, the New York City-based wine flash site, announced in May that it had raised $10 million in series B funding from investors including NEA Ventures and FirstMark Capital. The graphs below, using WinesVinesDATA, show that Lot 18 has dramatically increased the number of offers it makes per month and leads the other five leading flash sites in average price per bottle at $30. Businessinsider.com quoted Lot 18 co-founder Kevin Fortuna as saying that Lot 18 sales were well past $1 million per month in April. Lot 18 began operations in November 2010.
 

 
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Wine Industry Metrics
 
Off-Premise Sales » Month   12 Months  
August 2014 $558 million
5%
$7,613 million
6%
August 2013 $531 million $7,167 million
     
Direct-to-Consumer Shipments » Month   12 Months  
August 2014 $78 million
17%
$1,686 million
10%
August 2013 $67 million $1,530 million
     
Winery Job Index » Month   12 Months  
August 2014 218
12%
224
19%
August 2013 194 189
     
 
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