Wine.com, the nation’s leading online wine retailer, has raised $15M from existing investors to capitalize on accelerating growth. The profitable etailer, now over $100M in annual revenue, grew 25% in the quarter ending June 30, double its 5-year average annual growth rate.
The company said its selection has doubled to more than 17,000 wines, “15 times the average specialty wine store and 30 times the average grocery store, exposing customers to wine from all regions, varietals and price points.”
“Wine.com’s rapid growth is a clear indication that the company is aligned with emerging trends in the beverage alcohol space,” said Danny Brager, senior vp, Beverage Alcohol Practice at Nielsen. “As the wine market continues to shift online, Wine.com is tapping into key growth areas such as e-commerce and mobile, alongside the rising influence of millennials – critical components for today’s $33.6 billion U.S. wine market1.”
“It’s still very early in the game,” said Rich Bergsund, Wine.com CEO. “With this capital, we can expand our efforts to innovate and leverage technology to help consumers discover and buy great wine. We’ve sold and shipped nearly a billion dollars worth of wine to date, but we feel like a startup, hungry to earn the trust of customers of all ages and levels of wine knowledge.”