Clever Wine Startup Part of Off-Camera Deals Lady-Shark is Making in High-Growth Companies Prior to Season 6 of ABC’s Hit Reality Series, ‘Shark Tank’
SAN FRANCISCO–(BUSINESS WIRE)–September 17, 2014–
Underground Cellar today announced it has raised $1,000,000USD in investor funding, with the most recent contribution coming from famous ‘Shark Tank’ investor Barbara Corcoran. As part of the deal, Corcoran is also featuring Underground Cellar in her VC fund, Barbara Corcoran Venture Partners, which can be found on AngelList at https://angel.co/underground-cellar. The fund, which recommends companies Corcoran feels are worthy of investment, opens the door to accredited investors to invest alongside her in high-growth companies she is investing in. Underground Cellar, through this deal, is seeking an additional $200,000USD to expand their growing userbase and attract additional premium wineries onto its platform.
Underground Cellar is led by 28-year-old CEO and Founder Jeffrey Shaw, bringing sommelier-curated wine collections to buyers’ doors. The site’s unique features include randomly upgrading purchases to limited-edition, rare-vintage, and autographed large-format bottles, as well as unlimited free wine storage that allows buyers to pick and choose bottles from their collection to be shipped out on-demand at any time. Since launching UndergroundCellar.com in April 2014, Shaw has not only raised $1,000,000USD in investor funding, but has also built a 10-person team based in San Francisco, CA and sold over half a million dollars worth of wine.
“It’s really great that high-profile investors such as Barbara Corcoran are taking advantage of the latest SEC rules,” says Shaw. “It’s allowing those interested in getting their feet wet with startup investing to get expert guidance from those they trust. And it’s working – within just hours after Barbara recommended us to her backers, we’ve already attracted over 60 new investments in Underground Cellar and they keep coming in.”
Barbara Corcoran’s exposure on the TV show ‘Shark Tank’ provides her access to unprecedented deal flow, giving those who back her syndicated fund unique opportunities to invest in innovative companies with tremendous growth potential. Her investments run the gamut from ingenious consumer products to disruptive technologies.
“What I look for in picking companies to invest in are all-star teams with proven pedigrees and a track record of success,” says Corcoran. “That’s why I’m excited to be investing in Underground Cellar.”
About Underground Cellar
Underground Cellar is an innovative online wine marketplace for discovering and buying premium wine that randomly rewards consumers with free bottle swap-outs to rare and private-stash bottles from prestigious wineries. Members can increase their chance of being upgraded to a higher-value bottle by referring friends, purchasing wine, and participating in discussions with other users. The company, which is located in San Francisco, CA, allows its users to purchase wine from its preeminent winery partners, and allows its members to accumulate and store their purchases for free and for an unlimited amount of time in its state-of-the-art wine cellar in Napa Valley, CA. Built upon an active, diverse community of 50,000+ wine lovers and vintners, Underground Cellar is changing the way consumers discover, buy, and store their wine. For more information, visit www.undergroundcellar.com or www.facebook.com/ucellar
Jeffrey Shaw, 888-977-9899 x701
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more