BigDish PLC UK Launch and Fourth Quarter Strategy (8917A)
17 September 2018 - 4:00PM
UK Regulatory
TIDMDISH
RNS Number : 8917A
BigDish PLC
17 September 2018
17 September 2018
BigDish Plc
("BigDish" or the "Company")
UK Launch and Fourth Quarter Strategy
BigDish Plc (LON: DISH), the company which operates a yield
management platform for restaurants, is delighted to announce its
beta launch in the UK today.
Highlights:
-- Launches today with a select number of restaurants in Bath
-- Targets 70 independent restaurants in Bath and Bristol in the fourth quarter of 2018
-- Migration of Table Pouncer to BigDish platform
o 126,122 diners seated via Table Pouncer in 2017
o Table Pouncer was acquired by BigDish on August 2nd 2018
-- Fourth quarter sets the stage for aggressive rollout across
the UK in 2019, targeting up to 6,000 restaurants
A select number of restaurants in Bath were chosen for the beta
launch of BigDish in the UK. The beta stage will be for an initial
one month period. The goals of this first month are to ensure that
the technology and booking process operates seamlessly, to test
various marketing channels with a view to understanding the
economics to achieve scale, and to gain insights into customer data
via the BigDish proprietary business intelligence platform.
At the end of this one month period, BigDish will seek to
increase the number of restaurants in Bath and expand to
neighbouring Bristol. The goal for the fourth quarter in Bath and
Bristol is to grow to 70, predominantly independent, restaurants.
The Company will target larger restaurant chains at a latter date.
The Company has hired a territory manager who will seek to grow the
business in south west England.
During October, the Bournemouth restaurants currently on
TablePouncer will be migrated to the BigDish platform. In 2017,
TablePouncer received 45,117 bookings in Bournemouth and seated
126,122 diners, a market leading position and an increase on the
previous year.
BigDish will generate revenue in the UK initially by charging
restaurants an average fee of GBP1 per diner seated via the BigDish
platform. The Company collects revenue in the UK predominantly via
direct debit. As BigDish grows around the UK, the Company hopes to
create additional revenue streams which include premium placing on
the platform, advertising within the application, and monetization
of data insights.
Based on reaching the fourth quarter objectives in the UK, the
Company then plans to embark on an aggressive roll out across the
UK, targeting up to 6,000 restaurants.
BigDish believes that yield management presents an opportunity
to disrupt restaurant discount cards and voucher or coupon
businesses. These business models generate minimal to no data and
are ripe for disruption. In addition, these old models offer little
flexibility to restaurants and BigDish believes it is important to
create a win-win solution for both restaurants and consumers.
Dynamic pricing changed the way airlines seats and hotel rooms were
sold and BigDish believes the restaurant industry has the same
potential.
Joost Boer, CEO, commented:
"Launching today in the UK is a fantastic milestone for BigDish.
We have seen that TablePouncer achieved incredible success in
Bournemouth in terms of user adoption and we are excited to
replicate this success across the UK with BigDish."
"In the fourth quarter of 2018 we plan to establish our foothold
in the UK and set the stage for rapid and explosive growth around
the UK next year. All the indications are that the UK will be our
fastest growing and largest market. We will also stay ahead of the
curve with our technology platform by continuing to develop
innovative ways to ensure BigDish is a truly lasting, win-win
proposition, for both consumers and restaurants. We look forward to
updating the market on our progress."
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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