Lot18 Uncorks Investment From Diapers.com Founders

Lot18, which offers rare or discounted wine and food items online, has closed a partial round of funding from the founders of Diapers.com, which was acquired by Amazon through its purchase of Quidsi in November. Lot18, which has 400,000 members and 80 employees, will use the funding to support growth and to launch new verticals. The amount raised was less than $1 million; in total, it has now raised $13 million.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald