Young Guns: Wine Startup--for Oenophiles and Average Joes Alike
Young Guns: Wine Startup--for Oenophiles and Average Joes Alike
Nov 12, 2011 6
(FoxBusiness) -33-year-old Philip James is selling wine on a website. That’s not a novel idea.
What’s unique is that he only sells a few, hand-picked wines at a time--with an editorial explaining where it’s from and what it tastes like. It’s also significant to note that in a year his startup Lot18 has grown to over 600,000 users and received almost $43 million in capital.
“Lot18 is a site that provides insider access,” said James. “So we have a team of procurement specialists scouring the U.S. So, for instance, some Oregon high-end pinot noir that isn’t sold outside of Oregon because all the locals buy it—we will work with the wineries and brings a batch of that wine to our consumers.”
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