-100%

est. 2Y upside i

E-CommerceIPO

Rank

#4463

Sector

Wine & Spirits, E-commerce, Direct-to-Consumer

Est. Liquidity

~0Y

Data Quality

Data: Medium

The equity opportunity in Winc (the online wine subscription service) is non-existent.

Last updated: March 10, 2026

Bull (10%)-100%

Even under a highly optimistic scenario, the Chapter 11 bankruptcy filing in November 2022 and subsequent sale of operating assets for $11 million in January 2023 resulted in the complete wipeout of common equity, leaving no value for job seekers holding such shares.

Base (15%)-100%

The most likely outcome for Winc's common equity was a total loss due to the company's bankruptcy. The asset sale was insufficient to cover senior creditors and preferred shareholders, rendering common stock worthless.

Bear (75%)-100%

The company's declining sales, lack of profitability, and significant regulatory hurdles culminated in bankruptcy, leading to the delisting from NYSE American and a complete loss for all common equity holders.

Est. time to liquidity~0.0 years

Preference Stack Risk

severe

Funding Intensity

67%

With $76M in total funding against a pre-bankruptcy valuation of $114M, senior creditors and preferred shareholders had substantial claims, which were not fully satisfied, leading to common equity being wiped out.

Dilution Risk

high

Prior to bankruptcy, significant funding rounds indicated high dilution risk for common shareholders, which ultimately became moot as all common equity was lost.

Secondary Liquidity

none

There is no secondary market for the equity of the bankrupt Winc; common shares are worthless.

Questions to Ask at the Interview

Strategic questions based on Winc's data — designed to show you've done your homework.

  • 1

    “Given Winc's bankruptcy and asset sale, how would a new entity leveraging the Winc brand address the significant regulatory hurdles and intense competition that contributed to its downfall?”

  • 2

    “What lessons can be learned from Winc's struggles with profitability and declining D2C sales post-pandemic, and how would a new business model mitigate these risks?”

  • 3

    “Considering the complete loss for common equity holders in Winc's bankruptcy, what assurances or alternative equity structures would be in place to protect employee equity in a new venture acquiring similar assets?”

Community

Valuation Sentiment

Our model estimates -100% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.