Winc's IPO Is Done: Will Investors Accept This Rosé?

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to

Winc's IPO Is Done: Will Investors Accept This Rosé?
Photo by Kelsey Knight on Unsplash

Pour one out for Winc.

The wine subscription company behind Summer Water and Wonderful Wine Co started trading on the New York Stock Exchange on Thursday and received a tepid welcome from investors. The stock debuted at $13 per share and climbed to a high of $14.20 before closing at $12.27, down by about 5%.

Winc tailors wine recommendations to shoppers' palates. It essentially operates a wine-brand factory, popping out as many as 10 new brands per year informed by data gathered on customers and their ordering habits.

Winc originally sought to sell five million shares in October, priced between $14 and $16, to raise about $80 million. But the Santa Monica-based company quietly postponed its debut. It ultimately sold 1.7 million shares this week, raising $22.1 million.

Winc's direct sales surged during the pandemic, as lockdowns drove oenophiles to hunt for bottles on the internet. But Winc has cautioned that another global crisis, climate change, poses a threat to its bottom line.

Extreme weather fueled by climate change "could negatively impact the quality and quantity of grapes available to us and our producers for wine production," the company said in a regulatory filing.

Now trading under the symbol WBEV, Winc said in a statement that it's "excited for the next phase of our journey, which involves pushing industry boundaries, continuing to make great wine, and ensuring you always have great glass in hand." The company did not respond to a request for further comment on its downsized IPO.

This story was updated after trading closed on Thursday and was corrected to reflect that Summer Water is a Winc brand, while Yes Way Rosé is not.

Subscribe to our newsletter to catch every headline.


Why These Ukrainian Entrepreneurs Are Making LA Their Home

Aisha Counts
Aisha Counts is a business reporter covering the technology industry. She has written extensively about tech giants, emerging technologies, startups and venture capital. Before becoming a journalist she spent several years as a management consultant at Ernst & Young.
Why These Ukrainian Entrepreneurs Are Making LA Their Home
Joey Mota

Fleeing war and chasing new opportunities, more than a dozen Ukrainian entrepreneurs have landed in Los Angeles, finding an unexpected community in the city of dreams. These entrepreneurs have started companies that are collectively worth more than $300 million, in industries ranging from electric vehicle charging stations to audience monetization platforms to social networks.

Dot.LA spent an evening with this group of Ukrainian citizens, learning what it was like to build startups in Ukraine, to cope with the unimaginable fear of fleeing war, and to garner the resilience to rebuild.

Read moreShow less

Snap’s Fourth Quarter Revenue Was the Company’s Slowest Growth Since Its IPO Six Years Ago

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to and find him on Twitter @Samsonamore.

​Snap logo over a bunch of snap shots
Sebastian Miño-Bucheli

Snap Inc.’s trend of growing its user base but failing to adequately monetize them continues.

Read moreShow less