Giftify announces acquisition of TakeOut7, terms not disclosed

Giftify (GIFT) announced the strategic acquisition of TakeOut7, a restaurant technology company offering comprehensive online ordering solutions through its TakeOut7 platform and AI-powered digital marketing services through its Platr platform, in an all stock transaction valued at 350,000 shares of Giftify common stock, expanding Giftify’s technology offerings to include end-to-end solutions for independent restaurants. TakeOut7 operates two complementary platforms that address critical needs for independent restaurants. The company’s flagship ordering platform utilizes an innovative “zero cost” business model, charging consumers a nominal $1.99 service fee while providing restaurants with a complete technology suite including online ordering, kitchen integration, payment processing, and delivery coordination. The platform’s AWS serverless architecture ensures scalability and reliability for restaurant partners. The company’s Platr platform provides AI-powered digital marketing solutions that complement the ordering capabilities by offering comprehensive marketing services including website design, social media management, email campaigns, local search optimization, and customer satisfaction surveys. Together, TakeOut7’s dual platforms have connected over 1,500 restaurants with more than 20 million customers during the past five years. TakeOut7’s combined platforms generate an average revenue of $2,500 per restaurant annually across their current client base. The company is operating near break-even, with the acquisition expected to contribute positively to Giftify’s financial performance immediately upon integration. The Company expects to leverage its existing restaurant relationships and sales infrastructure to accelerate growth of TakeOut7’s dual-platform solution, targeting expanded market penetration among Restaurant.com’s network of over 184,000 restaurant partners.