After Acquiring Alcohol Delivery Competitor, Drizly Co-Founder Steps Aside

Drizly co-founder Nick Rellas has stepped down as CEO of the on-demand alcohol delivery company but will maintain a seat on its board, the Boston Globe reported last week.

Cory Rellas, who co-founded Drizly with his cousin and had been serving as its chief operating officer, has taken over as CEO.

The leadership change came less than a month after Drizly announced the acquisition of Buttery, a competing alcohol delivery service that operated in four cities.

Terms of the deal were not disclosed.

“Buttery brings with it a strong technology platform, passion for innovation and top talent that fits hand-in-glove with Drizly,” Nick Rellas said at the time of the announcement. “They share our sharp focus on making the adult beverage commerce experience ideal for consumers, retailers and suppliers alike. Their team has seamlessly become part of Drizly’s, and we are off and running.”

Drizly, which has pulled in about $35 million in funding and bills itself as the world’s largest alcohol marketplace, currently operates in more than 100 North American markets. The company has partnerships with more than 1,000 retail stores and processed 1 million transactions in 2017.

In addition to expanding into 40 new markets in 2018, Drizly also hired a new chief marketing officer, in Scott Braun, and a new chief financial officer, in Joe Grabmeier. It also hired Gabriela McManus as its first “head of people operations.”

“Scott, Joe and Gabriela bring precisely the experience and discipline that will set the stage for sustained growth and operational excellence at Drizly,” Nick Rellas said in January.

The six-year-old company also recently reported growth in two of its key markets — New York City and Miami. In NYC, Drizly is now working with 200 independent beverage retailers. And in Miami, sales of alcohol on the platform doubled through the first six months of the year.

A press release with additional details about the purchase of Buttery is included below.

BOSTON — Drizly, the pioneer and established leader in alcohol e-commerce marketplaces, announced today its acquisition of Buttery, an on-demand alcohol e-commerce company active in 4 cities. Buttery’s backend technology and employees will be fully integrated into Drizly. Users of Buttery’s apps and website will now have access to Drizly’s vast store network in over 100 markets, and can shop an expanded selection of adult beverages with full price transparency via Drizly.com or the Drizly app (App Store and Google Play) to arrange in-store pickup or delivery in under 60 minutes.

The acquisition is geared to accelerate Drizly’s already rapid growth. The company’s retailer network spans over 100 U.S. and Canadian markets, with expansion into 40 new markets within the past year alone. With a world-class Board of Directors and the backing of renowned institutional investors, Drizly has raised $35 million to date.

“Buttery brings with it a strong technology platform, passion for innovation and top talent that fits hand-in-glove with Drizly. They share our sharp focus on making the adult beverage commerce experience ideal for consumers, retailers and suppliers alike,” said Nick Rellas, CEO and co-founder of Drizly. “Their team has seamlessly become part of Drizly’s, and we are off and running.”

“We are immensely proud of the work we’ve done building and rapidly growing Buttery, and look forward to bringing a superior experience to even more customers as a part of Drizly,” said Gaurav Mehta, CEO and Co-Founder of Buttery. “We are excited to implement our technology across the vast network of Drizly retail partners and continue to make them successful,” added Gaurav Tanna, CTO and Co-Founder of Buttery.

Drizly provides visibility into inventories from multiple local retailers in each market, offering customers a wide selection of beer, wine and spirits, at transparent and competitive prices. Depending on the market, those inventories include a range of popular soft drinks, juices, ice and other mixers, so as to meet all your beverage needs. Customers can arrange fast on-demand, scheduled delivery or in-store pickup through their local liquor store. The Drizly mobile app and website offer deep wells of information, packed with cocktail recipes, pro tips and popular adult beverage trends.

About Drizly

Drizly is the world’s largest alcohol marketplace and the best way to shop beer, wine, and spirits. With the speed and convenience of on-demand delivery, in-store pickup, or intrastate shipping, customers can easily browse and order their favorites from the Drizly website or mobile app. By partnering with the best retail stores in over 100 cities in North America, Drizly provides consumers a rich e-commerce experience that offers unrivaled selection, competitive pricing, and personalized content to users of legal drinking age. Drizly operates across the United States and Canada, from Austin to Boston, Calgary to Tampa, New York City to Denver (and beyond). Backed by world-class institutional investors, the company has raised $35 million to date.

About Buttery

Buttery is an on-demand alcohol delivery company that specializes in craft and unique beer, wines and spirits and provides a seamless platform for retailers to establish online and mobile commerce in minutes. Buttery is a Boston-based company founded by Gaurav Mehta (CEO) and Gaurav Tanna (CTO) and has operations in Boston, Austin, Los Angeles and Washington D.C.

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