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

September has been a pivotal month in a few ways. We got a commitment from a fund, we had a new growth hire start, we're about to start the next two major product experiments, we trialed a new partnership worth £7k, and launched our first (revenue-generating) events. It's also been a month with a similar acquisition to August – so we need to regroup with new experiments quickly.

When we started fundraising a few months ago, it was with two big learnings in mind. First, we had proven demand for a learning-focused wine product. Second, our current product wasn't good enough to satisfy this fully. With fundraising soon to be in the bank, the company strategy will be focused on reaching product-market fit.

For Q4, we have three goals: complete fundraising, hit £90k of revenue in December, and build prototypes/MVPs ready for our two major new features ready for a Q1 launch.

We welcome a new hire to the team this month. He's fitting in very quickly, and we're now putting together our hiring plan for the remainder of the year and Q1 '21. We also welcome (soon-to-be) new investors to the fold.

All the best

Josh

Top-line stats

• Active subscribers: 1,071 (up 5% from 1,023)
• New subs: 174 at £44 CPA
• September revenue: £50k (up 0% from £50k)
• Box 2 (B2) retention rate: 74% (up from 65%)
• Box 3 (B3) retention rate: 76% (up from 68%)

Highlights

• Chris Denny joins the team in growth 🚀– Chris was employee number three/in the founding team at LOOT, studied growth under Brian Balfour & Andrew Chen at Reforge, and most recently lead growth at NAVA. He's fast settling in, talking to customers, earning us press coverage & backlinks, and experimenting heavily on-site.
• Hit top 3 for 'wine subscription' on Google 🤖– we forecast Christmas to be huge for both organic and paid revenue. In August we started work on SEO to start ranking for some key terms. We hit the top 3 for wine subscription this week.