Lot18 Acquires Vinobest
Venture-backed Lot18, a New York-based company that connects its members with limited-time opportunities to buy directly from wineries, gourmet-food producers and other makers of artisanal goods, has acquired Paris-based e-commerce company Vinobest.
Founded in 2010 by entrepreneurs Paul Guillet and Thierry Rochas, who will stay on with Lot18, working in its Paris office, Vinobest already realized sales growth in its first 10 months of operations. It has a developed system of fulfillment that ships wine to consumers in all parts of Europe.
Its website will be redesigned and rebranded in early 2012.
Founded in 2010 by CEO Kevin Fortuna and Philip James, Lot18 has raised $45m in venture financing, and grown from six to 90 employees and over 600,000 members. Its European operations will be run from a new office in London headed by Will Armitage.
04/11/2011: Lot18 Raises $30M in Series C Funding
24/08/2011: Lot18 Receives Funding from Marc Lore and Vinit Bharara
03/05/2011: Lot18 Completes $10m Series B financing