Wine.com has raised $32.5 million in debt and equity financing from funds managed by Goldman Sachs Asset Management's Private Credit Group. Rich Bergsund, Wine.com's chief executive officer, calls the funding a game changer. The company will use it to invest in mobile features and services as well as new channels and approaches to build brand awareness and attract customers. Wine.com will also invest in infrastructure that improves order accuracy and timeliness.
Matt Singer from Goldman Sachs says Wine.com has a compelling platform and the group's investment is consistent with its strategy to partner with and provide long-term, flexible capital solutions to high growth companies that demonstrate unique and defensible business models. "We are excited to help accelerate the company's expansion," he says.
Related: Big-Box Stores Continue Release Inexpensive Wine; Who Will Pick the Grapes at California Wineries?
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