Popular website builder (opens in new tab) Wix has acquired online ordering company SpeedETab in order to further boost its growing Wix Restaurants division.
According to a press release (opens in new tab), thanks to the acquisition, Wix Restaurants will now be able to provide an end-to-end solution to create and manage a full-service restaurant platform.
"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 (opens in new tab).
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Online food ordering is one of the sectors that has witnessed tremendous growth as a result of the pandemic.
According to Wix, during the last couple of years, its Restaurants division recorded a massive increase in monthly new signups, going from hundreds to tens of thousands.
“Overall, the number of restaurants selling online grew by 143%, the number of online orders grew by 378% and the gross payment volume (GPV) grew by 449%,” notes the release.
Using the Wix Restaurants platforms, outlets can create a presence on the web and on mobile, through which they can provide menus, take online orders and reservations, and even receive payments (opens in new tab).
With the latest acquisition, the company hopes to integrate various industry-leading restaurant POS systems (opens in new tab) into the platform as well. This will allow outlets to manage both their offline and online orders from a unified interface.
“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," said Adam Garfield CEO of the US-based SpeedETab.
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