News raises $15 million in growth funding as it launches a new website and mobile app, and Diageo reveals more details about its tax disputes in France and U.K. Molson Coors announces new operations strategies, including selling no- and low-alcohol beers, and Jeffrey Stuffings, founder of Jester King Brewery, talks about his reasons for joining 1,700 craft brewers who use the Brewers Association’s indie seal. This is the news we’re thinking about here at SevenFifty Daily.

August 18, 2017
1. Business Insider raises growth funding, launches new site and app has raised $15 million from existing investors to expand further, as it grew 25 percent in the quarter ending June 30. In 2016, they have reported to grow to $100 million in annual revenue. It also launched a new website with filtering capabilities and additional wine and winery content. Their new mobile app includes a new label scanner, a detailed wine database, live chat with wine experts, and the ability to order products. They make

2. Tax-News

Diageo reveals tax disputes in France and U.K.

Diageo said that it is in discussions with the French and British tax authorities over the deductibility of interest costs and a Diverted Profits Tax liability. According to French tax authorities, Diageo allegedly owes an unknown amount back taxes for the period of July 1, 2011, which Diageo contests. Furthermore, according to the UK revenues and customs authority, Diageo is required to pay a total additional tax and interest of $138 million for the financial years ended June 30, 2015, and June 30, 2016, due to the new Diverted Profits Tax law that went into effect April 2015.

3. The Spirits Business

Owner of Jester King talks about BA's indie seal

Some 1,790 breweries have signed on to use the recently released Brewers Association’s “independent craft brewer seal.” Member brewers will display the badge across packaging and marketing materials, on websites, and in taproom windows. Jeffrey Stuffings, founder of Jester King, says, “We see the BA seal as one of several ways small brewers can fight back against big beer’s effort to obfuscate the beer market, and we’re glad to support the initiative.”

4. Brewbound

Molson Coors announces new operations strategies

Molson Coors announced in a press release that it will be adding low and no-alcohol beers to its portfolio. Additionally, Molson Coors wants to improve water-use efficiency by 22 percent across breweries, and improve water-use efficiency of their agricultural supply train by 10 percent.