Investors eager to dump Wine.com, sources say


The New York-based private equity firm Baker Capital is selling off online wine retailer Wine.com, say several sources familiar with the matter.

According to its website, Wine.com is majority owned by Baker Capital, a firm that claims to have $1.5 billion under management.

Wine.com soaked up close to $75 million in venture funding in a decade, but it has struggled to make money over the years, given the high marketing and shipping costs of selling wine online.
The news was first reported Monday by Growth Capitalist reporter Teri Buhl. Unnamed sources told Buhl that the company has failed to receive any offers and that Credit Suisse would handle the sale. Buhl also reported that bankers have little more to sell than a domain name.


read more
I Could Parent Without Wine, but I Really Don`t Want to photo
Is this a novel, or the wine list? photo
Did Michael Jordan really pound a 6 pack of beer after every single game? photo
 
 
 
Your Edition
Support
Follow Us
 
Website
venturebeat.com
961457 Daily Page Views
Featured this week
Daily Alerts

Subscribe to our daily alerts and get the latest trending news directly in your inbox