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
The first strategic milestone for Wine List was hitting the customer number needed to become a wine importer. As a wine importer, we can increase unit margin from under 10% up to 30% and beyond.
Today, our July shipments land on doorsteps with wine we imported ourselves.
With this milestone hit, we can now refocus efforts on the next key pillar: driving retention and lifetime value.
Over the last 30 days, we have conducted over 40 customer interviews, and had written feedback from over 200 people.
We have a clear understanding of what needs to be built from a product perspective. This involves doubling down in two areas: education and access to wine.
As a result, we have decided to launch of our seed round so that we can accelerate product development and build stickiness in today.
As an investor, you get first access to the available investment. We are going to raise £500k. This raise will allow for the hires needed as well as working capital to achieve product goals and hit cash flow positive in early 2021.
Please take a read through the deck and **let me know what you think.**
Our approach is to raise the majority from angel investors, and then the remainder via crowdfunding.
Over coming months, we will prioritise affordable acquisition while making product changes needed to drive lifetime value and retention.
All the best
Josh
Top-line stats