Shaker & Spoon, Cocktail Subscription Innovator, Completes Revenue-Based Funding Deal with Decathlon Capital Partners
Investment will help fund the company's continued growth and expansion into new markets without any dilution or governance involvement
NEW YORK, Sept. 9, 2021 /PRNewswire-PRWeb/ -- Shaker & Spoon Inc., whose cocktail subscription program draws rave reviews and growing legions of loyal members, has landed a significant investment from Decathlon Capital Partners to accelerate its growth.
The revenue-based investment package, which totals in the seven figures, will support new product offerings, further enhancement of customer experience, and growth of Shaker & Spoon.
The company, founded in Brooklyn, N.Y., in 2015, provides subscribers with original cocktail recipes created by the world's top bartenders along with unique, hard-to-find cocktail ingredients. Subscribers purchase their favorite liquor themselves, allowing Shaker & Spoon to ship even to states that restrict alcohol delivery.
"Our community of subscribers enthusiastically embraces the opportunity to learn how to make three new cocktails with confidence every month," said Mike Milyavsky, Chief Executive Officer of Shaker & Spoon. "Each month's box includes the carefully selected ingredients you'll need to make 12 cocktails (four from each recipe), along with instructions and how-to videos to create the perfect cocktail experience."
Dina Epshteyn, the Chief Operating Officer of the company, noted that members don't limit their relationship with Shaker & Spoon to participation in the monthly subscription. "Once they find cocktails they really love, they return again and again to our Make More Store, where they can reorder the ingredients for their favorites," Epshteyn said. "Or they can order complete kits for one cocktail recipe at a time, which is great for so many different folks—whether they're just trying us out for the first time and prefer to start small, don't want all three recipes from a certain box, or wish to stock up on a particular recipe but would rather not do the work of gathering all the components for it from many different sources."
John Borchers, Managing Director of Decathlon Capital Partners, said Shaker & Spoon has succeeded in building a strong sense of community. "Its production team in Brooklyn's Red Hook neighborhood prepares their ingredients and shipments by hand. Its in-house customer experience team provides prompt, personalized service. And Shaker & Spoon maintains a strong ethos of giving back to the community," Borchers said. "The company's successful business model reflects its commitment to strong corporate values."
The investment was structured via a revenue-based finance arrangement, meaning no equity or ownership was exchanged for growth capital. Instead, the investment will be repaid through Shaker & Spoon's future revenue.
About Shaker & Spoon
Since its founding in Brooklyn, N.Y., in 2015, Shaker & Spoon has provided its community of subscribers with original recipes each month created by the world's best bartenders and unique, hard-to-find cocktail ingredients—plus the knowledge and confidence to impress their date, host the coolest cocktail party, or just relax with the perfect old fashioned. Giving back is a central element in the ethos of Shaker & Spoon, whether it's preserving our national parks, fighting cancer, or supporting the post-pandemic recovery of the hospitality industry. Learn more at shakerandspoon.com.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control, and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at http://www.decathloncapital.com.
Media Contact
Mike Milyavsky, Shaker & Spoon, (929) 732-6820, [email protected]
SOURCE Shaker & Spoon
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