BigDish (DISH) directors have been approached by multiple Asian technology companies informally discussing a potential acquisition. They are as a result conducting a strategic review expected in January to achieve most value for shareholders.
The Asian Arm of BigDish has grown substantially over the past year, seating three times as more diners.
"Given that the UK's largest dining discount card, Tastecard, was acquired for over GBP100m a couple of years ago, it is clearly evident that the UK alone has the potential to deliver significant value for shareholders." said Joost Boer, CEO.
The appointment of Sanj Naha last month has proven fruitful, with developments underway for a new UK growth model on a per territory basis.
Joost Boer added: “Sanj's experience in the restaurant tech space gained at tech giants such as TripAdvisor and The Fork is proving invaluable as we build the launch pad for aggressive growth in 2019.”
His previous experience in restaurant reservation and yield management applications has served as the basis for the strategy, with a new territory manager being appointed to cover the south west and new restaurants.
A recommendation was made to upgrade the branding for the UK market. This branding process has started with a change of logo in the UK and will be implemented over the coming months.
The UK business is expected to be fully rebranded and TablePouncer will be completely absorbed into BigDish by January.
It stated that it is confident that there are a potential 6,000 restaurant partners in the UK, with the initial focus being signing up restaurants in Bristol.
The Company expects to announce in early January its specific metric and operational targets for the UK business in 2019, and depending on the outcomes of the Asian business strategic review, less capital may be needed for UK growth.
It is increasing the size of its technology team, having gone from 7 to 9 with intentions to grow to 15 over the next year. It aims to improve product development and the speed at which new features and updates can be completed.
BigDish's technology development team is currently in the Philippines, a significant cost saving compared to the UK.
BigDish is currently operating in beta with TablePouncer, with operational and technology recommendations being implemented, in January the Company plans to end the beta phase.
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