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Club W rebrands as Winc, raises $17.5 million for personalized wine
May 5, 2016
(Techcrunch) - Club W, a wine club startup based in Los Angeles, is rebranding as Winc. The team has also raised an additional $17.5 million in funding co-led by the Beijing-based Shining Capital and existing investor Bessemer Venture Partners.
Originally just an online marketplace, the company has expanded to a full-fledged alcohol business, sourcing and producing all of the wines it sells. Customers fill out a “palate profile” and the team provides personalized recommendations, with options for as low as $13 per bottle.
The startup says that they are able to offer wines at a lower price point because they are eliminating middle-men like importers and wholesalers from the wine distribution process. Winc sources its bottles directly from the vineyards.
Winc “applies a digitally native approach to doing the same kinds of things that other wine clubs have been doing,” CEO Xander Oxman tells TechCrunch. “Yet we try to deliver more value in a way that also creates a better consumer experience overall.”
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