Author/Source: Seeking Alpha
Starbucks (NASDAQ:SBUX) says it is taking a stake in privately-held digital tech company Brightloom, as it seeks to speed up its offering of mobile ordering and payment options at its global stores.
In return for the equity stake, Brightloom will make available to SBUX’s licensees the coffee chain’s system for mobile ordering and payment, loyalty perks and delivery order management.
SBUX and Brightloom also will sell access to the platform to other restaurants trying to adopt their own digital programs.
Both companies say SBUX’s is significant but do not disclose specific financial terms.
Although SBUX was one of the first big restaurant chains to invest in a sophisticated loyalty program – with nearly 17M members – fewer than half of SBUX markets around the world now have the company’s mobile app and only eight have digital payments.