Lot18 Receives Funding from Marc Lore and Vinit Bharara

Lot18, a New York-based invitation-only site that offers deals on premium food and wines, has received an investment of undisclosed amount from Marc Lore and Vinit Bharara.

Lore and Bharara are the founders of Quidsi, best known for Diapers.com, which was acquired by Amazon for $545 million in November 2010.

The company intends to use the funds to expand in the wine market, as well as in additional verticals, which will be launched soon. In the first nine months of operation, Lot18 has grown to more than 400,000 members and more than 80 employees.

Co-founded in 2010 by Kevin Fortuna and president Philip James, the company provides its members with access to rare wines, which are hand-selected by its expert procurement team. In June, Lot18 launched into the artisanal food space and now offers products such as olive oil, chocolates, caviar, coffee and more.

To date, Lot18 has raised more than $13 million in funding (see related news).

FinSMEs

24/08/2011

Related News

02/05/2011: Lot18 Completes $10m Series B financing

10/11/2011: Lot18 Closes $3M Series A Funding Round

2 comments

  • Lot18 has been a great site for purchasing top curated wine and I would reommend taking a look. You still need to do your research and check the prices against the web, but often they are at least a few dollars lower than the average prices I have seen. Occassionally they are on average but their free shipping at 4+ bottles and frequent free shipping promos make it worthwhile. I have found their other culinary offers too expensive for what I am willing to pay. A little to elite pricing for chocolate, etc. The site is invite-only based so here is a link to register if you are interested in checking it out.
    http://bit.ly/Lot18SignUp

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