SevenFifty Technologies to Acquire Bridge, a Provider of E-commerce Technology for Off-Premise Retail and Data Insights
NEW YORK, June 9, 2020 /PRNewswire-PRWeb/ -- SevenFifty Technologies (http://www.sevenfifty.com), the leading online marketplace and data platform for the US alcohol beverage industry, today announced that it has acquired Bridge, a Florida-based technology and data-driven solutions provider specializing in e-commerce platforms designed exclusively for independent retailers of wine, beer, and spirits.
With online sales of alcohol skyrocketing to over twice that of a year ago, up 234% during the seven-week COVID-impacted period ended April 18*, the need for scalable solutions to sell alcohol in a COVID-impacted world is now more important than ever. SevenFifty's vision of delivering best-in-class e-commerce tools to the retail tier will now be given a significant boost through the Bridge acquisition. Founded in 2018 as a result of a merger with Tipsi and a subsequent acquisition of Drync, Bridge has very quickly emerged as a developer of intuitive, easy-to-use, custom-branded web and mobile e-commerce applications designed to help retailers extend their brick and mortar presence and capture increasing online sales with a Progressive Web App (PWA) technology stack designed to work across any platform.
SevenFifty continues to be a pioneer in the alcohol business bringing cutting-edge technologies to the industry. With the team and technology of Bridge, SevenFifty will be able to fast track the rollout of its new e-commerce platform, SevenFifty Storefronts in Summer 2020. The launch enables SevenFifty to extend the best e-commerce tool in the industry to its 25,000 off-premise retailers with intuitive and effective customer experience hubs built on the company's modern technology. SevenFifty's high-quality product data will integrate seamlessly with a whole suite of POS systems, making it very easy for retailers to set up their e-commerce shop with a trusted partner.
"The acquisition of Bridge's best-in-class technology and data expertise expands SevenFifty's technical talent, allows us to scale our data and analytics capabilities even faster, and--most importantly-- gives off-premise retailers using SevenFifty a one-stop-shop for managing their relationships with the trade and their own customers online," said Aaron Sherman, CEO of SevenFifty. "By working with SevenFifty, retail partners will have the ability to get up and running with a progressive and dynamic e-commerce tool to respond to the rapidly increasing consumer demand for online purchasing."
"The whole team at Bridge is excited to bring our data-driven approach to SevenFifty, where we'll be able to unify our missions of providing and delivering industry-leading technology and data-related services to the online world of beverage alcohol retail," said Bridge Co-Founder Alex Miningham, who will transition to his new role as Vice President of Data Strategy for SevenFifty. "COVID-19 has dramatically changed the way that consumers search for and purchase alcohol, and now more than ever, brick and mortar stores need access to efficient solutions that allow them to take advantage of the evolving world of online alcohol sales. We look forward to helping to bring these solutions to SevenFifty's off-premise buyers around the country as part of the Storefronts rollout later this year".
*Source: Nielsen U.S. - "Rebalancing the 'COVID-19 effect' on alcohol sales", May 7, 2020
About SevenFifty - http://www.sevenfifty.com
SevenFifty brings innovative technology and data insights to the beverage alcohol industry with next-generation solutions that power the three-tier supply chain. The company's people-first approach to technology enables producers, distributors, importers, retailers, and restaurants with the tools they need to connect with each other and do business in a modern world.
About Bridge - http://www.joinbridge.com
Bridge is a technology and data-driven solutions provider for the beverage alcohol industry that leverages the power of artificial intelligence to transform raw data into actionable insights to drive bottom-line results for brands, wholesalers, and retailers. Data is Bridge's secret weapon with intelligence on over 67 million beverage alcohol consumers on an easy-to-use platform. Bridge Intelligence wants to arm beverage professionals with the tools they need to operate effectively in the marketplace.
SOURCE SevenFifty Technologies
