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

One comment

Join the discussion