As stated on the website, Wine-Searcher was bought by GLX and becomes part of the Goudet family’s portfolio through their “Platin” investment vehicle. Goudet/ Platin invested in Treasury Wine Estates in April (and Oatly prior to that) and is apparently known as a rather aggressive PE type specializing in troubled companies.
The WS post seems rather generic with no clear signs of restructuring or indication of changes to come. Maybe that’s even an improvement on Flaviar and their intermediation/ WS Marketplace approach…
Two and a half years seems short even for a PE flip. There was plenty of consumer dissatisfaction expressed here with the direction Flaviar was taking them. Maybe it was widespread with a drop in subscription revenue leading to them bailing to cut losses. Total speculation on my part…
Agree, and I don’t recall Flaviar seeing it as a PE-type investment, rather integrating vertically/ horizontally and using it to expand their marketplace. Guess it didn’t work out the way they expected it to
Flaviar bought Wine Searcher and then partnered with RNDC which, I imagine, didn’t go well. I know other tech companies that partnered with RNDC around same time and everyone came away disappointed…with their recent implosion we know why. I don’t know much about Flaviar but suspect this has something to do with that.