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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  
December 2014 $776 million
3%
$7,866 million
5%
December 2013 $755 million $7,470 million
     
Direct-to-Consumer Shipments » Month   12 Months  
December 2014 $166 million
14%
$1,820 million
15%
December 2013 $145 million $1,576 million
     
Winery Job Index » Month   12 Months  
December 2014 155
27%
229
14%
December 2013 122 200
     
 
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READER COMMENTS
 
Article: Wine Flash Sales Activity Still Strong »
 
Thanks for the comment. It's a good point. We have added a line to the...
Reader: Jim Gordon
 
Article: Wine Flash Sales Activity Still Strong »
 
The bar chart at the top of this article is misleading. Nowhere in the chart...
Reader: Guest
 
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I am a few months behind on reading so I was happy to see what...
Reader: David Coffaro
 
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I suggest that the new mark-up structure worries BC fine wine drinkers as much as...
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Good choice to not take the deal. You have a much needed item that wine...
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