August 24, 2011 09:00 ET

Lot18 Announces Investment From Founders

E-commerce Pioneers Invest in Rapidly Growing Wine-Discovery Website

NEW YORK, NY--(Marketwire - Aug 24, 2011) - Lot18, the company that provides insider access to the best in food and wine selections, today announced investment by Marc Lore and Vinit Bharara, founders of Quidsi. Quidsi, best known for, was acquired by Amazon for $545 million in November 2010. Quidsi also runs, a site for pet supplies, as well as, which sells health and beauty products; it is soon to launch, a site for toys.

This investment demonstrates Lore's and Bharara's interest and confidence in companies that place paramount importance on customer service and careful product selection.

"Lot18 has a unique offering, an attractive user experience, broad appeal and excellent growth potential," said Lore. "The American wine market is worth billions, but online sales currently account for only a small percentage of the total -- Lot18 is already redefining the way consumers buy wine and is capitalizing accordingly. Vinit and I are excited to be a part of a company that realizes this through providing an engaging customer experience."

In nine months of operation, Lot18 has grown to more than 400,000 members and more than 80 employees. This funding will support and accelerate Lot18's growth in the wine market, as well as in additional verticals soon to launch.

"Lot18 has grown even faster than we could have anticipated," said Philip James, co-founder and President of Lot18. "It's clear that people are looking for a better way to buy wine, and we're thrilled not only to provide this now, but to use this investment for further innovations in matching our highly curated selections with discerning consumers."

Lot18 provides its members access to rare and hard-to-find wines, hand-selected by the company's expert procurement team. In June, the company 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.

About Lot18
Lot18 was founded in 2010 by Kevin Fortuna and Philip James. Fortuna was formerly the CEO of Quigo, an advertising technology company that was sold to AOL Time Warner for $360 million in November 2007. James was the founding CEO of Snooth, the world's largest wine website.

Lot18 connects its members with exclusive, limited-time opportunities to purchase directly from wineries, gourmet-food producers and other makers of artisanal goods. Each product or experience featured on Lot18 is individually evaluated for quality by Lot18's team of experts. Lot18 is headquartered in New York. For more information or to request an invitation for membership, visit

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