A founder who has developed a name to prepare the Products to help improve the restaurant, has collected Million 50 million for his latest start: a new tech on the idea of customer loyalty.
Blackbird Labs Restaurant Recorts Restaurant’s Recorps meets a payment-Locality Met-Blackchen platform has developed while reducing some friction around the transaction. Now, with the signup of about 1,000 a thousand restaurants, CEO Ben Lunthil said that Blackbird intends to use this amount to launch its latest products, a cross research “points” service they call the Blackbird Club, as well as New York (its Homebase, and South Karnovs, South Karnovs, and South Karnovs.
–
Spark Capital, a new supporter, is leading the latest period, which also includes coins base ventures, Amx Ventures and Anderson Horwootz, who are three investors who supported Blackbird. Million 24 million Series A in 2023. The diagnosis is not being disclosed but for a point of view, Pitch Notice In this last round, startup was worth about $ 124 million. Startup has raised $ 85 million to date.
Coin Base and Emkes are strategic names on this list.
Emeraks acquired Razi, a reservation platform that Livanthl had previously founded, In 2019. “It is appropriate to say that we will do,” Lenthl said. Prior to Recese, founded the third restaurant -based start -up lanutheel, the food blog, also acquired: this is now Part of the voices. There is no plan to contribute and if there are contributions.
Meanwhile, Blackbird describes its flight payment service as a three -transaction protocol layer layer on Coin Base. Principle. Dinner can use it through the Blackbird app, as well as paying food on the table as well as when they go to the restaurant, they can release loyalty points.
Is it worth asking if the blockchain was strictly a part of the mixture? There are many loyalty and payment programs in the market. There is a number that is directly oppressed by Blackbirds such as Pancha, Toast, Light Speed, etc. Which are made on more traditional financial structures.
“I don’t think it is necessary to ‘have to be built on the blockchain,” said Lunthil. “The visa network, less or less, was created using the same principles we are using for Flint, and obviously they didn’t have a blockchain.”
But he also pointed out that “there are some things that we believe that there will be important opportunities over time, and these opportunities will be based on China.” “They also include how black birds and restaurants have customer profiles and activity,” he said. “Users will be able to own this profile.” It also belongs to how the Blackbird considers his engagement with the restaurant, he said: The user of each restaurant will eventually be a Blackbird shareholder.
You think that with two startups dedicated to the aspect of the restaurant trade users that can fill its business with Luunthale. As it turns out, she’s still hungry.
Being a restaurant has long been a challenging enterprise, but the economy and the changing consumer habits, especially in the past few years, have knocked the restaurant world a lot.
Lenthil cited the National Restaurant Association data that notes that these days the average profit of the restaurant is Less than 5 %An average of 20 % in the early nughties.
Although platforms such as Instagram and Techtok have turned the world into armchair foods, and produce army of people who come with the latest and best cafes, they are doing this during the time to accelerate the rapid margins and pricing sensitivity. These are the areas that are only going to get worse if the United States really closed its latest tariff.
“The severity of consumers’ love for restaurants in the restaurant industry and eventually the profit of the industry is a disconnect,” he said.
This means disconnection, of course, startup thinking opportunities.
“The restaurant industry is comprised of millions of local, small business owners around the world,” said the Ariana Simpson General Partner at the A16 Z Crypto. They are at the mercy of the restaurant tech platform that is a large and frequently growing price of a restaurant margin.
He believes that this is especially where the blockchain can play its role: improving this margin structure. “Ben’s vision is for a network that is owned by restaurants and self -food, which is something that enables blockchain only.” He added that today, Blackbird is already saving 3-4 % of the processing fee of paying to its restaurant users.