Online Wine Store Vinfolio Raises $4.5 Million
This is good news for wine enthusiasts. Vinfolio is an online wine store and social network. The company recently announced $4.5 million in funding, led by Panorama Capital. Vinfolio previously raised an angel round of funding. Vinfolio is based in San Francisco, which is a good location because they are near Napa.
Vinfolio CEO Stephen J. Bachmann said that the investment will be used to help grow the Vinfolio Marketplace. Vinfolio Marketplace has about 250,000 wines to select and bid on. Vinfolio also plans to expand their services in China.
Shahan Soghikian, a Managing Director at Panorama will be joining the Vinfolio Board of Directors as a result of the funding. “With its impressive operational infrastructure, this dynamic company has already revolutionized how fine wine is bought and sold with an intense focus on the customer experience,” stated Soghikian. “With the launch of the Marketplace, Vinfolio has positioned itself at the nexus of the fine wine supply chain. Combined with its commitment to service, Vinfolio has established itself as a clear market leader”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry