Yum! Brands, the parent company of restaurant chains like Taco Bell, KFC and Pizza Hut, will start taking orders via text message and social media apps following its acquisition of an Israeli tech start-up called Tictuk, Fox News reports.
Yum described the start-up in a press release:
“Founded in 2016, Tictuk is a privately held company based in Tel Aviv, Israel, that specializes in conversational commerce, a technology solution that allows users to complete orders and interact with brands through a variety of social media and chat channels, including WhatsApp, Facebook Messenger, Telegram, SMS, QR codes, and email” (via The Hill).
While Yum didn’t disclose any financial terms of the acquisition, the company did assure interested parties that Tictuk will continue its business with other clients, CNBC reported.
This deal follows a terrific year for Yum’s digital sales, CNBC reports. According to the site, digital transactions hit a record of $17 billion in 2020, marking a 45% increase from 2019.
Chris Turner, the CFO for Yum! Brands, commented on the acquisition in the release. “The right technologies will allow us to better serve customers with the best offer and delicious food in a way that’s most convenient for them,” he said (via Fox News).
“We’re excited about the opportunity Tictuk presents, as their solution delivers high impact by enabling our brands to achieve a truly omnichannel presence and provide frictionless ordering for customers in just a few clicks,” Turner added.
Yum! Brands has already implemented Tictuk’s ordering technology in 900 Taco Bell, Pizza Hut and KFC restaurants across 35 international markets, CNBC reports, though it is unclear at this time when the new tech will be introduced in the United States.