Today in restaurant and grocery tech news: MOD Pizza submits a draft registration to go public via initial public offering (IPO), and Turkish grocery delivery startup Getir announces the acquisition of United Kingdom rival Weezy. Plus, Thirstie CEO Devaraj Southworth discusses how digitally lagging liquor brands can leverage gift cards to drive adoption.
Struggling NYC Bodegas Seek City Funding for Tech, Delivery Apps
Quick-commerce grocery delivery services — JOKR, Gorillas and Fridge No More — have become part of the fabric of life in New York City, with more and more of the city’s nine million residents turning to fast, convenient delivery instead of heading to one of the more than 10,000 bodegas on neighborhood corners. NYC-based small businesses are concerned that thousands of bodegas will be forced to shutter as new grocery delivery apps keep arriving on the scene, according to a CBS report on Tuesday (Nov. 23).
Grocers Try Smart Carts to Reduce Labor Costs, Shift Checkout to Consumers
Frictionless checkout is no longer the near-exclusive purview of Amazon. While some major brands are trying out cashierless payment options that allow consumers to pick items off shelves and walk out of the store with them, others are opting for the smart cart route. For instance, Albertsons Companies, the Boise, Idaho-based grocery giant that encompasses more than 20 popular supermarket chains across 34 states, is trying out smart carts powered by Seattle-based artificial intelligence (AI) startup Veeve, according to a report from local business news outlet BoiseDev.
Delivery Startup Getir to Buy UK’s Weezy Amid Major Consolidation Moves in Ultrafast Grocery Market
On Tuesday (Nov. 23), Turkish startup Getir, which specializes in 10-minute delivery, agreed to acquire British rival Weezy as part of its plans to further expand into the U.K. The Istanbul-based company currently operates across 15 locations in the U.K., including London, Manchester, Birmingham and Liverpool.
Liquor Brands Use Gift Cards to Drive Online Sales, Build Brand Loyalty
On Tuesday (Nov. 23), Thirstie, an alcoholic beverage-focused technology company, announced the launch of its branded gift cards, the first of their kind for liquor brands, for purchases from Thirstie-powered sites. The company’s CEO Devaraj Southworth spoke with PYMNTS about how these cards can help address liquor brands’ eCommerce adoption problem.
To See Where the QSR Industry Is Headed, Look to Pizza
Pizza may be timeless, but the ways in which restaurateurs are getting that pizza from the kitchen to consumers’ mouths could not be timelier. Taking note of pizza’s promising future, Seattle-based QSR chain MOD Pizza is looking to try its luck on the public market. On Monday (Nov. 22), the company, which has over 500 locations across 29 states, announced that it has filed a draft registration with the United States Securities and Exchange Commission (SEC) to go public via IPO.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More