For the six million UK wine drinkers who want to learn more but don't know where to start, Wine List is a way to discover great bottles while learning at the same time.

Good morning

With our first quarter finished, we're in a process of remodelling and planning for the next quarter and the rest of the year more broadly. I'll share a separate update with medium-term updates later this month.

A note from myself, I had some sad personal news this week. A very close friend passed away due to complications with his mental illness. It's been a huge reminder for the Wine List team that we have to look out for each other and be mindful of one another's mental health. I hope you're all able to take care of your mental health at this time.

We have a winner for our referral competition – thank you to all participants for playing so competitively, especially to those with over three referrals, it was neck and neck for a while.

All the best

Josh

Top-line stats

• Active subscribers: 836 (up 1.6x from 520)
• New subs: 470 at £30 CPA
• May revenue: £48.8k (up 1.7x from ****£29.4k)
• Box 2 (B2) retention rate: 79% (up from 63%)
• Box 3 (B3) retention: 70% (NB: 73% of the 63% above cohort)

Highlights

• First marketing hire made 💼 - She joins the team to take on growth and user acquisition, she previously worked at.
• First wine import 🚢 – from July, the core wine we ship will be imported ourselves. Most importantly this brings the margin improvements to make this a viable business but also adds further to our defensibility and USP
• Freelancers supporting Teams tastings 👩‍🏫 – ****our team tastings had the bottleneck previously of my time: we now have two remote tasters who support these which is allowing us to scale (1.6x monthly growth so far)