Wix, a New York, US-based software as a service (SaaS) platform for creating and managing online presence for restaurants, has acquired Miami, US-based ordering technology provider SpeedETab.
SpeedETab is an ordering and payment technology provider, catering to the restaurant industry.
Founded in 2013, it offers users an end-to-end online and mobile ordering solution.
SpeedETab partners with several providers in the restaurant industry to boost the experience for diners and drive revenue growth for restaurant owners.
Following the deal, all SpeedETab employees will join Wix.
The financial details of the deal have not been disclosed.
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The purchase will further expand Wix Restaurants by providing a full online experience for restaurant owners.
Wix Restaurants serves as an all-in-one solution that enables restaurant owners to create an online and mobile presence, offer menus, accept online orders and reservations, and receive payments.
During the past year, its global user base has grown even though restaurants had to quickly shift their services online and offer ordering, delivery, and pick-up options.
In the past two years, Wix Restaurants has experienced its monthly new sign-ups increase from hundreds to tens of thousands.
In total, the count of restaurants selling online grew by 143%, while the count of online orders increased by 378% and the GPV rose by 449%.
The acquisition of SpeedETab will enable Wix Restaurants to integrate with several restaurant POS systems, enabling restaurant owners to seamlessly manage all online and offline orders in one place.
Furthermore, the restaurant owners will be able to quickly and easily manage orders from several channels in a unified experience. They will accept orders coming from their website, as well as directly link with many online marketplace channels and delivery partners.
The solution will help restaurants to expand and streamline orders and delivery services.
Wix SVP for Strategic Products Ronny Elkayam said: “It’s more vital now than ever for restaurant owners, from small, local, and family-run to fine dining and multi-locations, to optimise their services with a strong, reliable online presence.
“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.”
SpeedETab CEO Adam Garfield said: “We are thrilled to join the Wix Restaurants team and provide an amazing solution for restaurants around the world. Since its 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.”