ShiftPixy Labs to Support the Rapid Rise of Ghost Kitchens
05 August 2020 - 11:00PM
ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement
platform provider, today added additional commentary around last
week’s groundbreaking launch of ShiftPixy Labs, a new suite of
marketing and support services for quick service restaurant
operators (QSRs). The COVID-19 pandemic has proven a
game-changer for QSRs, which are now embracing ghost kitchens in
response to social distancing mandates. New ghost kitchens
have already raised more than $500 million in capital and are
spreading quickly nationwide. Euromonitor expects a $1
trillion market globally by 2030, which could replace up to half of
all dine-in volume as early as 2022. ShiftPixy aims to
provide sophisticated technology to assist with all aspects of
establishing and operating a successful ghost kitchen, and with the
launch of ShiftPixy Labs last week, is inviting budding and
established restaurant entrepreneurs alike to partner with
ShiftPixy to drive their future success.
“ShiftPixy is introducing an innovative approach
to physical space requirements, and a format that helps restaurant
operators leverage our technology and human capital engagement
platform to reimagine and test new ways of becoming better and more
agile digital marketers,” said ShiftPixy Co-Founder and CEO Scott
Absher. “We look forward to sharing more in the coming days
on the exciting opportunities ahead for restaurateurs across the
U.S. to forge long-term vital partnerships with us.”
Through ShiftPixy Labs, the Company expects to
provide additional layers of services and engagement, from business
startup clear through to customer meal delivery. The new
functionality builds on the traditional ShiftPixy gig engagement
platform that empowers restaurant operators to take full advantage
of their human capital with cutting edge tools to handle payroll,
compliance and native delivery.
About ShiftPixy ShiftPixy
(PIXY) provides a disruptive human capital management platform,
revolutionizing employment in the Gig Economy by delivering a
next-gen mobile engagement technology to help businesses with
shift-based employees navigate regulatory mandates, minimize
administrative burdens and better connect with a ready-for-hire
workforce. With expertise rooted in management's nearly 25 years of
workers' compensation and compliance programs experience, ShiftPixy
adds a needed layer for addressing compliance and continued demands
for equitable employment practices in the growing Gig Economy.
ShiftPixy Cautionary Statement
The information provided in this release includes forward-looking
statements, the achievement or success of which involves risks,
uncertainties, and assumptions. Although such forward-looking
statements are based upon what management of the Company believes
are reasonable assumptions, there can be no assurance that
forward-looking statements will prove to be accurate. If any of the
risks or uncertainties, including those set forth below,
materialize or if any of the assumptions proves incorrect, the
results of ShiftPixy, Inc., could differ materially from the
results expressed or implied by the forward-looking statements we
make. The risks and uncertainties include, but are not limited to,
risks associated with the nature of our business model; our ability
to execute the Company's vision and growth strategy; our ability to
attract and retain clients; our ability to assess and manage risks;
changes in the law that affect our business and our ability to
respond to such changes and incorporate them into our business
model, as necessary; our ability to insure against and otherwise
effectively manage risks that affect our business; risks arising
from the Covid-19 pandemic or any other events that could cause
wide-scale business disruptions; competition; reliance on
third-party systems and software; our ability to protect and
maintain our intellectual property; and general developments in the
economy and financial markets. Statements made in connection with
any guidance may refer to financial statements that have not been
reviewed or audited. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change, except as required by
applicable securities laws. The information in this press release
shall not be deemed to be "filed" for the purpose of Section 18 of
the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of that section, and will not be deemed
an admission as to the materiality of any information that is
required to be disclosed solely by Regulation FD. Further
information on these and other factors that could affect the
financial results of ShiftPixy, Inc., is included in the filings we
make with the Securities and Exchange Commission from time to time.
These documents are available on the "SEC Filings" subsection of
the "Investor Information" section of our website at
https://ir.shiftpixy.com/financial-information/sec-filings, or
directly from the SEC’s website at https://www.sec.gov. Consistent
with the SEC’s April 2013 guidance on using social media outlets
like Facebook and Twitter to make corporate disclosures and
announce key information in compliance with Regulation FD,
ShiftPixy is alerting investors and other members of the general
public that ShiftPixy will provide updates on operations and
progress required to be disclosed under Regulation FD through its
social media on Facebook, Twitter, LinkedIn and YouTube. Investors,
potential investors, shareholders and individuals interested in our
Company are encouraged to keep informed by following us on
Facebook, Twitter, LinkedIn and YouTube.
INVESTOR CONTACT:
Investor.Relations@ShiftPixy.com 800.475.3655
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