Wine App Startup
Recommendations for buying wine
Vivino is a Danish startup who claims they have created the most downloaded wine app. The app gives each wine based on reviews by users and makes personalised wine recommendations to users who can then buy the suggested wine through the app.
Vivino sell wine online in 17 countries such as the UK, US and Japan as well as European countries such as Italy, Portugal and Germany. They have seen their UK users and revenue double over the past year as consumer behaviour shifts online.
A recent funding round raised $155 million bringing their total funding to $221 million. They plan to use this money to improve its techology platform so that they can use AI to enable users to see more useful recommendations, as well as to increase their marketing (historically an area where they have spent very little). Vivino don’t actually own any of the wines they sell, so they have to make sure they choose their wine partners carefully as any problems in fulfilling orders will reflect badly on Vivino.
If this lockdown goes on much longer, we expect their UK users to grow far beyond the 2.4 million users they currently have.
