BigDish PLC BigDish UK Growth Strategy (1088X)
08 August 2018 - 4:00PM
UK Regulatory
TIDMDISH
RNS Number : 1088X
BigDish PLC
08 August 2018
8 August 2018
BigDish Plc
("BigDish" or the "Company")
BigDish UK Growth Strategy
BigDish Plc (LON: DISH), a food tech company that operates a
yield management platform for restaurants, is pleased to provide a
corporate update on its UK growth strategy following the Company's
recent Admission and acquisition of Pouncer, a UK-based yield
management restaurant booking provider, operating through its
mobile app and web-based platform, TablePouncer.
Highlights:
-- Acquisition of Pouncer completed at Admission
-- BigDish to enter UK through a rebrand of TablePouncer
-- Deployment of a three-phase UK launch
o Phase I: Beta launch (a soft launch) of the BigDish app in
Bath
o Phase II: Migrate Bournemouth-based TablePouncer restaurants
and users to BigDish app
o Phase III: Roll out BigDish app across the UK, with primary
focus on regional towns and cities
Acquisition of Pouncer
BigDish completed the 100 per cent acquisition of Pouncer on the
day of Admission, 2 August 2018. Prior to the Acquisition, BigDish
had been working with Pouncer since January 2018 to redevelop the
existing TablePouncer platform and implement the Company's yield
management system. This is currently successfully operating in the
Philippines, Indonesia and Hong Kong. BigDish's Board sees great
potential in TablePouncer. It recorded 126,000 diners in
Bournemouth alone in 2017 - up nine per cent year over year -
making it the city's leading yield management and restaurant
discovery platform.
Growth Strategy
For the foreseeable future, BigDish is set to deploy a
three-phase development and growth programme to expand its presence
within the UK. The first phase of this programme is set to commence
in September 2018 and will see a beta launch of the UK BigDish
platform in Bath.
The second phase of the programme will involve the migration of
all existing Bournemouth TablePouncer users and restaurants to
BigDish. This is expected to commence in October and is expected to
be completed in less than a month.
The last phase will be the roll out of the new BigDish platform
to a wider UK audience, with primary focus on regional towns and
cities where the restaurant app market is less saturated.
BigDish's Yield Management Strategy
Yield management is a dynamic pricing strategy that charges
different prices at different times for the same products. American
Airlines started to use yield management in the 1970s which changed
the way airline seats are sold. The hotel industry also has widely
adopted yield management. The restaurant industry has typically
been a slow adopter of technology and as such yield management has
been underutilised. Even the busiest restaurants have empty tables
and quieter evenings. BigDish's application of yield management
enables restaurants to offer customers discounts at quieter times
to optimise their revenue by bringing in additional customers.
Joost Boer, CEO, commented:
"I am very pleased that with the Acquisition of Pouncer, BigDish
now has an immediate foothold within the UK market. The restaurant
sector, traditionally a slow adopter of technology, is ripe for
disruption. Following TablePouncer's migration to BigDish's
business model in January 2018, we have been pleased by the
reception from both restaurants and consumers alike.
"I am also delighted that Patrick Knight, the founder of
Pouncer, has agreed to stay on to lead our UK operations. The whole
management team looks forward to working with him to utilise the
experience BigDish has developed in the Asian market to help roll
out TablePouncer's successful operations across UK regional towns
under the BigDish brand. The stage is now set for BigDish to grow
within the UK market.
"Since our IPO, UK and Irish restaurants have reached out to
BigDish to get involved with the platform. This confirms that the
huge potential we see in the UK is shared by others. This is an
exciting time for the Company and I look forward to updating the
market with our progress in due course."
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR")
Enquiries:
Blytheweigh +44 (0) 20 7138 3204
Tim Blythe
Julia Tilley
Simon Woods
bigdishplc.com
@bigdishIR
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END
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