Posts Tagged ‘Vinomofo’

Online wine retailer takes home the Deloitte Technology Fast 50 award for 2013

Wednesday, December 4th, 2013
Photo credit; Uncalno Tekno on Flickr

Photo credit; Uncalno Tekno on Flickr

Vinomofo, an online wine retailer with revenue growth of 1,723% over the past three years has taken home the Deloitte Technology Fast 50 award for 2013.

Co-founder and CEO Andre Eikmeier said the award is recognition of the “impact of a million decisions we’ve made, and the traction in the marketplace. Since we’ve grown profitably, rather than simply pumped capital into marketing dollars to ‘buy’ our growth, it’s something we’ve very proud of. For us, our customers and suppliers aren’t just transacting with us; they have to a large degree invested in our journey. They believe in us, and have championed us from start-up.”

Deloitte’s Technology Fast 50 leader Joshua Tanchel said in a statement that Vinomofo’s innovative customer relationship model and its use of social media to enhance consumer engagement contributed to the business’s success.

“Vinomofo has disrupted and redefined the ultra-competitive online wine market since its launch three years ago. They have pioneered a content driven approach that has been a real hit for consumers, helping to break down barriers and open up new channels to market by working directly with wine producers.”

The Deloitte Technology Fast 50 Program ranks 50 of Australia’s fastest growing public and private technology companies, based on percentage revenue growth over three years (2011 to 2013).

Total revenue for this year’s Fast 50 winners was approximately $1.7 billion. Average three-year revenue growth for this year’s winners was 222%.

Melbourne-based online foreign exchange broker Pepperstone, which was founded in 2010, won the Rising Star Award, which recognises companies with strong growth potential that do not qualify for the Technology Fast 50 list, either because they don’t have revenue data for three years or they don’t meet the $8 million income threshold to take part in the Technology Fast 50 program.

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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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