While screening WeFunder to find my next investment, Vin Social immediately caught my attention when I read the company turned over almost a million in revenue in year one while spending very little on advertising. When reading that the company grew to this point almost entirely organically, you can bet I immediately reached out to the founder to know more. So we set down on a 1-hour call with the team to talk about everything we need to know about the business.
- 00:00 First of all, let's tell our listeners a little bit about yourself and your company. What is Vin Social? What is your background, and what inspired you to start this journey?
- 02:10 Meet Lily—Vin Social's COO.
- 02:45 Meet Brian—Vin Social's Lead Investor.
- 03:15 Vin Social's Pivot amid pandemic.
- 07:05 What's the roadmap for the next 12-months?
- 09:30 I can see that you have both a B2B model where you work with corporations helping them improve attendance and conversion rates for their virtual events and a B2C model where anyone can buy wine from your e-commerce, even on a subscription basis. So please tell us everything we need to know about your business model.
- 15:55 Would you please break down revenue by source? What's the percentage of revenue coming from B2B, and what's the one from B2C?
- 18:00 On the team section of your WeFunder campaign, I can see you and Lily. Would you please give us a complete overview of your team? How many employees do you have, and what's their role?
- 21:25 Talking about competitors: is there anyone else working on something similar? How do you differentiate?
- 22:55 Is Vin Social just a wine tasting company?
- 31:25 Talking about your operating market. How big is the opportunity? If everything goes smoothly, how big do you believe you can get 5 and 10 years from now?
- 39:00 Speaking of scalability, what do you believe is the biggest risk to scale the business to $100M in revenue?
- 43:45 With regards to customers who didn't host another Vin Social after the first one, what are the main reasons they stopped using your service?
- 48:15 (Reading a comment from a subscriber) Are you raising through equity crowdfunding just because you weren't able to raise money from VCs?
Will I invest in Vin Social?
I'm still in the process of writing a full deal report on Vin Social. At Angel Notes, I review 100+ pitches on 10+ platforms every month to find the best deal and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!