Restaurant and brick-and-mortar retail loyalty and guest engagement platform Thanx on Tuesday (April 5) acquired restaurant-focused marketing and data insights platform ZeroStorefront, according to a joint press release.
“Thanx is redefining customer loyalty for this industry, driving restaurants away from rote discounts and toward data-driven insights and personalization that actually maximizes lifetime value. This acquisition further accelerates our innovation in this category and brings some exceptional restaurant technology veterans onto the Thanx team,” said Zach Goldstein, CEO and founder of Thanx, in the release.
“The ZeroStorefront team has been innovative in consolidating customer data and driving business intelligence that directly produces revenue growth and cost savings for restaurants,” he said. “We can’t wait to see the outcomes they can drive at a larger scale.”
ZeroStorefront CEO Collin Wallace will join Thanx as vice president of insights and CTO Ashutosh Joshi will become director of engineering. They both worked at Grubhub, where Wallace was the Head of Innovation and Joshi led engineering efforts for restaurant-facing technology.
“I have seen firsthand how the rise of third-party delivery has elevated the importance of knowing your customers personally and engaging with them in a relevant and memorable way,” said Wallace in the press release. “Together with Thanx, data-driven insights and personalized engagement will now be easier than ever for restaurants seeking to embrace the new digital environment.”
“Through this process, we became convinced Thanx has the strongest leadership team in the industry and the fastest pace of innovation; it was a natural fit,” he said.
The ZeroStorefront acquisition continues Thanx’s Loyalty 3.0 initiative, which was launched late last year when the company announced a platform redesign focused on helping restaurants build non-traditional loyalty programs. Earlier this year, Thanx launched Hidden Menu, a reward capabilities program for Loyalty 3.0 members.
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Earlier this week, Mastercard closed its acquisition of personalized engagement platform Dynamic Yield from McDonald’s, giving Mastercard increased customer engagement and loyalty services that will help brands deliver improved customer experiences.
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