In its second-largest acquisition, Amazon buys the company for $970 million.
CellarThief.com takes the increasingly popular flash sale business model to the world of wine.
CellarThief.com takes the increasingly popular flash sale business model to the world of wine, and adds a charitable twist. Four times per week, staffers select three wines to sell at 35% to 65% off—one pricey bottle for special occasions, an everyday-type of wine and another that may be any price but that is unusual in some way. For each bottle sold, the e-retailer donates 100 days’ worth of clean water to organizations that work to bring potable water to the one-eighth of humanity that lacks it. If a particular wine selection sells out, CellarThief donates an additional 50 days’ worth of water. The e-retailer introduces local wineries via videos, allows site visitors to share products with friends via e-mail and charges a flat $5 shipping fee for any order of three bottles or more.