U.S. Markets closed

Lot18 Uses Its First Acquisition, Paris-Based Vinobest, To Launch In Europe

Alyson Shontell

Lot18, the gourmet food and wine flash sales site, is putting the $30 million it just raised to use.

Today it's announcing its first acquisition, Paris-based e-commerce company Vinobest.

Vinobest was founded in 2010 by Paul Guillet and Thierry Rochas who will be joining the Lot18 team but continuing to work from Paris.

Lot18 will use Vinobest to launch in Europe, primarily in the U.K, France and Germany.  Cofounder Kevin Fortuna says Europe alone is a $100 billion wine market.



More From Business Insider