According to Leibovich, with an established platform and engaged customer base, strong supplier network and a skilled team led by renowned digital wine entrepreneurs Andre Eikmeier and Justin Dry - better known as the 'The Qwoff Boys') - Vinomofo would will 'rapidly accelerate the group's position in the online wine space.'
CatchOfTheDay is already the owner and operator of group buying site scoopon.com.au2, and online supermarket groceryrun.com.au, and Leibovich says that after successfully building three daily deal sites from scratch, the need for specialised knowledge and established supplier networks within the wine sector led the company to pursue an investment strategy as the preferred method to penetrate the high growth wine, beer and spirits market.
'We wanted to shake up the wine category with something fresh and exciting and were very impressed with Vinomofo's take on the space, with a daily deal site that brings together expert recommendations and carefully curated wine deals at amazing prices. Andre and Justin not only have an incredible understanding of wine and the sector, they also understand the online world and what it takes to build a successful business in this space."
Headquartered in Adelaide, Vinomofo was founded 12 months ago and Leibovich says the company has undergone rapid growth, and currently has over 30,000 active subscribers and 'boasts Australia's largest social media community of wine enthusiasts with over 25,000 Twitter followers.' 'The site has established supply relationships with over 200 of Australia's leading producers, ensuring a broad range of quality wines on offer at various price points,' Leibovich said.
Leibovich says the investment made sense for both businesses by delivering Vinomofo the 'perfect platform to take their rapidly growing business to the next level,' and to CatchOfTheDay an 'established credible brand and management team to best represent its group in the online wine space.'
'Through the deal Vinomofo can enjoy access to best in class systems as well as warehousing and logistics capabilities to support its growth, not to mention opening the door to over 2 million potential new subscribers through CatchOfTheDay's database.'
Commenting on the deal, Vinomofo's Andre Eikmeier said the Catch group was 'the best at what they do, and there's a good fit culturally.' "We've explored several potential avenues to take the business to the next level over the past six months. However, we wanted to ensure we found a partner that could not only help us achieve our growth aspirations, but also stood for the same principles that we do - quality product, genuine value, personalised service, and a little bit of fun.'