11-Month-Old Wine Site Lot18 Is Generating $25 Million This Year

lot18

Lot18, a flash wine and gourmet food sales site, is on track to generate $25 million gross revenue this year, a source close to the company tells us.

Considering the New York startup is only 11 months old, that’s impressive. 

Our source tells us the company is generating more than $2 million per month, up from $1 million per month in May when it raised a $10 million Series B round of financing.

Philip James and Kevin Fortuna cofounded the startup last November and launched with $3 million in funding.  The founders expect the company will be profitable by year end.

It’s growing like a weed too. When we took a tour of Lot18’s office this summer, there were more than 65 employees. Lot18 currently has half a million registered users.

To understand how Fortuna and James have scaled so quickly, click here.

Or, get a backstage pass and take our tour of Lot18’s office >>

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