Posts Tagged ‘CatchoftheDay’

CatchoftheDay reveals why it sold its wine site

Friday, July 12th, 2013

Coupon site CatchoftheDay has sold its wine-based acquisition Vinomofo to a small group of anonymous Adelaide investors just over a year after acquiring the wine website, saying it was a business incubator project through its Sketchbook Ventures program and it had reached the point where the business could thrive with new investors.

Vinomofo co-founder Andre Eikmeier recently told SmartCompany that the Vinomofo founders also missed their independence, and saw an opportunity to grow beyond the CatchoftheDay model.

“Catch was pretty hands-off and encouraging, it wasn’t like a dictatorship or anything. But we started to get a feeling that…as our appetite grew, we looked at moving on from the group. It was a change in focus.

“It wasn’t the original plan,” he says, although places a caveat on this by saying the sale process has been amicable. “It’s beyond amicable.”

Vinomofo’s founders have kept a majority stake in the company, while CatchoftheDay has sold its entire interest in the company.

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