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Winc

Out of Business

Winc, Inc.

Retail & Consumer · Founded 2011

A modern winery, building the brands of tomorrow

Post-money valuation ⓘ
$114.5M
As of Mar 2020 · from Reg A Offering (2019) · pre-money + amount raised, not a traded price
Total raised
$32,716,718
Crowd $6.1M · Private $26.6M · 5 rounds since 2019
Latest share price
$1.75
Reg A+ · Equity · Jul 2020 offering price

Financials

FY2017–FY2021 · from SEC filings · hover any figure for its source
$40.6M
−$1.2M
2017
$36.4M
−$7.8M
2018
$36.4M
−$8.0M
2019
$64.7M
−$7.0M
2020
$72.1M
−$14.6M
2021
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2017 audited
FY2018 audited
FY2019 audited
FY2020 audited
FY2021 audited
Income statement
Revenue
$40,626,034
$36,446,424
$36,447,000
$64,707,000
$72,069,000
Cost of goods sold
$23,649,224
$21,826,793
-$21,827,000
$38,352,000
$41,944,000
Gross margin
42%
40%
40%
41%
42%
Net income
-$1,159,149
-$7,755,541
-$8,049,000
-$6,958,000
-$14,648,000
Taxes paid
—
—
—
$27,000
$50,000
Balance sheet
Cash
—
$1,903,085
$6,418,000
$7,008,000
$4,883,000
Accounts receivable
—
$1,047,049
$1,368,000
$1,505,000
$2,575,000
Total assets
—
$15,231,652
$19,816,000
$24,224,000
$50,388,000
Short-term debt
—
—
—
$1,526,000
$0
Long-term debt
—
—
—
$812,000
$0
Total liabilities
—
$16,633,000
$18,371,000
$22,611,000
$26,906,000
Other
Headcount
—
80
73
—
—

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$110.0M
pre-money
$111.4M
est. pre-money
Reg A+ · Equity · Jul 2019
Reg A+ · Equity · Jul 2020

Blue bars are the pre-money valuation the company stated for a priced round. Dotted grey bars are our estimate for rounds that didn't state one: the round's share price × the shares outstanding in its filings. Same measure as blue, but rougher.

Share price over rounds

$1.75$0.875$0.5013
2019Jul 2020
Round offering price or verified disclosed saleDisclosed sale, unverified or year-only

Disclosed sales come from the issuer's own filings (prior-offering lines, audited-statement notes) and are amount ÷ securities sold. A down round is a firm point more than 25 % below the previous firm point of the same share class on a comparable basis; the comparison ignores unverified and year-only lines.

Cap table

Share counts as of Sep 30, 2022
ClassOutstandingVotes / shareShare of totalLast price
Common Stock13,296,585—100.0%—

Shares outstanding over timein today's share terms

122M61M0
Dec 2018Sep 2022
Common StockPreferred stockSeries A Preferred StockSeries B Preferred StockSeries B-1 Preferred StockSeries C Preferred StockSeries D Preferred StockSeries Seed Preferred StockRound opened

Changes in named holdersshares in today's terms · % of all shares at the time

Principal holders% as the filing states it, May 11, 2021

  • Shuhei Ohashi8,209,586 Series C Preferred Stock100.0%of Series C Preferred
  • Cool Japan Fund8,209,586 Series C Preferred Stock100.0%of Series C Preferred
  • Entities affiliated with Bessemer5,957,867 Series A Preferred Stock72.0%of Series A Preferred
  • Xiangwei Weng6,870,244 Series B Preferred Stock51.4%of Series B Preferred
  • Shining Capital6,870,244 Series B Preferred Stock51.4%of Series B Preferred
  • New Direction IRA, Inc.3,336,905 Series D Preferred Stock50.7%of Series D Preferred
  • Entities affiliated with Bessemer4,198,483 Series B Preferred Stock31.4%of Series B Preferred
  • Pacific Continental Insurance Co.1,908,397 Series B-1 Preferred Stock27.8%of Series B-1 Preferred
  • CrossCut3,466,809 Series Seed Preferred Stock26.2%of Series Seed Preferred
  • Entities affiliated with Bessemer1,620,330 Series B-1 Preferred Stock23.6%of Series B-1 Preferred
  • Alexander Oxman1,659,617 Common Stock21.9%of
  • Alexander Oxman PO Box1,659,617 Common Stock21.9%of company
  • Geoff McFarlane1,477,500 Common Stock19.5%of
  • Shining Capital1,195,032 Series B-1 Preferred Stock17.4%of Series B-1 Preferred
  • Xiangwei Weng1,195,032 Series B-1 Preferred Stock17.4%of Series B-1 Preferred
  • Wavemaker Partners1,019,231 Common Stock13.5%of

Sold to the crowd

From the company's SEC filings: share counts per class, each class's voting and conversion terms, and the holders of 20% or more that Form C requires (officers and 10%+ holders on Form 1-A). Filings name only large holders, so most owners — including crowd investors — are not listed, and a holder's percentage may be of its own class rather than of the whole company. Prices and crowd share counts are in today's share terms — adjusted for splits and conversions since they were sold. Hover a figure for its filing.

Fundraising history

Raised $10MInvestors 27
Reg A+ · Equity · Jul 2020Closedvia DALMORE GROUP LLC
Raised $1.6M / $17.5MEst. pre-money $111.4M
Reg A+ · Equity · Jul 2019Closedvia SeedInvest
Raised $4.5M / $15MPost-money $114.5M

Team

9 people
Geoffrey McFarlane
Chief Executive Officer, Vice-President
Brian Smith
Chief Operating Officer, President
Carol Brault
VP, Finance
Matthew Thelen
General Counsel and Director of Corporate Development
Kent Bennett
Series A Director
Laura Joukovski
Series Seed Director
Patrick DeLong
Independent Director
Shuhei Ohashi
Series C Director
Xiangwei Weng
Series B Director

Names and titles as disclosed on SEC Form 1-A. Bios and photos come from the platform campaign page and may be out of date.

  • Form 10-QNov 14, 20220000950170-22-025015
    EDGAR
  • Form 10-QAug 11, 20220000950170-22-016849
    EDGAR
  • Form 10-QMay 13, 20220000950170-22-009868
    EDGAR
  • Form 10-KMar 30, 20220000950170-22-005063
    EDGAR
  • Form 10-QDec 9, 20210000950170-21-005118
    EDGAR
  • Form 1-SASep 28, 20210001104659-21-119906
    EDGAR
  • Form DJun 16, 20210001556663-21-000002
    EDGAR
  • Form 1-UJun 1, 20210001104659-21-074399
    EDGAR
Source: ManualCIK 0001782627Share price $1.75

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.