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S2 E9: Why Everyone Prefers Predictability / That Last Knockout Punch / How Gift Cards Keep Giving
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Wink, Wink Wine Subscription Business
Wink was started as a business called Club W, which was like a wine subscription business. They went through YC in 2010 or 2011 back when YC sort of still did e-commerce businesses. In December 2017, they borrowed $5 million at a really high interest rate, 6.25% plus prime. The minimum interest rate that they had to pay was 11.5%. And not only can you not sell at something kind of reasonable to what you raised at, but it is completely upside down where you've raised millions and millions of dollars.
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