Wix (NASDAQ: WIX) reported the acquisition of SpeedETab. SpeedETab is an ordering and payment technology provider for the restaurant industry and provides users with end to end online and mobile ordering solutions. This acquisition will enhance Wix Restaurants, to create and manage a full service restaurant platform, delivering an online experience for restaurant owners and ensure their online success.
Wix Restaurants allows restaurant owners to create an online and mobile presence to provide menus, take online order, reservations and to receive payments. Within the last two years, Wix Restaurant’s monthly new sign ups has grown from hundreds to tens of thousands as the the number of restaurants selling online grew by 143% as the number of online orders grew by 378% while GPV grew by 449%.
“It’s more vital now than ever for restaurant owners, from small, local, and family-run, to fine dining and multi-locations to optimize their services with a strong, reliable online presence,” said Ronny Elkayam, SVP Strategic Products at Wix. “We’re excited to bring the online expertise of SpeedETab to join our mission of providing the best online platform for restaurants. Wix Restaurants is already the leading industry solution, and now our combined platform will provide a high value product for the new era of the restaurant industry.”
“We are thrilled to join the Wix Restaurants team and provide an amazing solution for restaurants around the world,” said Adam Garfield CEO of SpeedETab. “Since inception, SpeedETab has been focused on empowering restaurants to increase revenue, engage with their customers, and provide a superior guest experience. As part of Wix Restaurants, we look forward to making it easier than ever for any restaurant to have all the digital tools they need to succeed in one place.”