DRINKS.com Secures $15 Million With Latest Round of Funding.Business Editors CHICAGO--(BUSINESS WIRE)--March 21, 2000 Wasserstein Perella, Swander Pace Capital, CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Venture Capital and Texas Pacific Group Lead Investors DRINKS.com, the world's largest source of wine, spirits and beer products at the world's best prices, today announced that it has secured a total of $15 million of venture capital funding with the company's latest round. The lead investors were Wasserstein Perella, Swander Pace Capital, CIT Venture Capital and the partners of Texas Pacific Group. Raffles Capital Group served as a financial advisor to DRINKS.com and arranged the venture financing. The additional funding will be directed toward expanding DRINKS.com into additional markets and increasing the company's overall marketing efforts. "We chose DRINKS.com because of its innovative and fully legally compliant approach to the industry and its experienced management team," said W. Townzend Ziebold, Jr., managing director, Wasserstein Perella. "Through their unique systems integration with the leading wholesalers in each state, DRINKS.com can offer the consumer the largest selection of SKUs at the lowest prices across all three segments: wine, spirits and beer. This gives them a competitive advantage over other resources, especially those that solely focus on a single segment such as wine." "DRINKS.com is dedicated to not only providing the broadest selection of wine, spirits and beer products at the best prices, but to educating our customers on the story behind each bottle we feature," said Louis Amoroso Am`o`ro´so n. 1. A lover; a man enamored. adv. 1. (Mus.) In a soft, tender, amatory style. , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , DRINKS.com. "DRINKS.com features an extensive editorial staff that provides informative and unbiased articles and product reviews. DRINKS.com is packed with news and feature articles, travel and nightlife ideas, party planning suggestions, meal matching tips and an abundance of other editorial content." "When we learned that there is no other company either online or offline that has the ability to provide the selection, pricing and information of DRINKS.com, we knew we had to be a part of it," said Bill Pace of Swander Pace. "We view DRINKS.com as a very solid investment, and expect great things from them in the very near future." "We believe that DRINKS.com's business model will be successful because it leverages the power of the Internet, while embracing the Federal and State regulations of the wine, spirits and beer industry," said Mark Vander Veen of CIT Venture Capital. About DRINKS.com DRINKS.com is the world's largest source of wine, spirits and beer products and information, offering the best prices and delivery in 48 hours. Through its unique approach, DRINKS.com has cracked the code to marketing wine, spirits and beer over the Internet within the mandated three-tier distribution system, and by doing so will be able to own the category. Beer Across America and International Wine Cellars founders Louis Amoroso and Todd Holmes created DRINKS.com. They bring many years of mail order and consumer marketing experience, having created both Merchant Direct and Goose Island Goose Island may refer to: Places in Australia
n. pl. mi·cro·brew·er·ies A small brewery, generally producing fewer than 10,000 barrels of beer and ale a year and frequently selling its products on the premises. Also called boutique brewery, brewpub. . Current plans are to do business in 30 states representing 85% of wine, spirit and beer consumption. DRINKS.com conforms to all Federal and state regulatory statutes regarding the sale and shipment of wine, spirits and beer. About Wasserstein Perella Wasserstein Perella, which invested in DRINKS.com through its venture capital arm Wasserstein Adelson Ventures, L.P., is a leading international investment bank that provides its clients with advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , equity and debt underwriting, merchant banking and other asset management services worldwide. Wasserstein Perella has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Dallas, Houston, London, Paris, Frankfurt and Tokyo. About Swander Pace Capital (SPC 1. (business) SPC - Statistical Process Control. Something to do with quality management. 2. (body) SPC - Software Productivity Centre. 3. (company) SPC - Software Publishing Corporation. 4. ) Swander Pace Capital is a San Francisco-based private investment firm specializing in value-added investing in consumer products companies. SPC draws upon the experience, analytical resources, and industry relationships of Swander Pace & Company, the leading strategy consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a focused exclusively on consumer industries, to support strategic initiatives of portfolio companies. SPC has access to over $200 million of committed equity capital from its limited partners, which include corporate and public pension funds, insurance companies, financial institutions, and high net-worth families. About CIT Venture Capital CIT Venture Capital is the private equity group of CIT (NYSE NYSE See: New York Stock Exchange :CIT), a $50 billion commercial finance company. CIT Venture Capital has made equity investments in early to late stage technology companies focusing on the commerce, Internet, software and telecommunications industries. About Texas Pacific Group (TPG TPG Texas Pacific Group TPG Tapping TPG Transports Publics Genevois (Geneva, Switzerland public transportation) TPG Test Pattern Generator TPG TNT Post Group TPG Trésorier Payeur Général ) Texas Pacific Group, founded in 1993, is a private investment partnership with capital in excess of $7 billion, and with offices in Fort Worth, TX, San Francisco, CA, Washington, D.C., and London. About Raffles Capital Group Inc. (RCG RCG Responsible Conduct of Gambling RCG Revolutionary Communist Group (Northern Ireland) RCG Raiffeisen Central Genossenschaft (German: Raiffeisen Cooperative) RCG Race, Class and Gender ) Bob Chen founded Raffles Capital Group Inc. in 1991. Raffles Capital Group is a corporate financial advisory firm that raises capital for technology and financial service companies, renders corporate financial advisory services and initiates strategic alliances for its clients. |
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