Beat the Q News

Beat the Q acquires Australia’s leading mobile loyalty card platform eCoffeeCard

 

  • Brings together Ordering, Payment and Loyalty under one roof
  • Acquisition expands reach to over 15% of Australian Cafes
  • Organic growth continues across both Beat the Q and eCoffeeCard platforms
  • Reckon and Vocus founders back acquisition strategy

 

Sydney, Australia, 27 February 2014 — Beat the Q, the startup putting an end to queues and waiting time around the country with an innovative mobile payment solution, has acquired Australia’s leading loyalty app eCoffeeCard.

 

eCoffeeCard is a free app (iOS, Android, Windows Phone, and Blackberry) which consolidates coffee loyalty cards in one convenient location. Its reach of 1,600 cafes and 320,000 users makes it the biggest mobile loyalty scheme in Australia.

 

The acquisition merges two innovative systems under one roof, combining ordering, payment, AND loyalty.

 

“Acquiring eCoffeeCard gives us a direct business relationship with 15% of all cafes around Australia, and a platform for true scale to help us become a market leader,” said Adam Theobald, Founder and CEO of Beat the Q.

 

“There are strong synergies between Beat the Q and eCoffeeCard at a product, merchant, and consumer level, which is why the acquisition is such a perfect fit for us. We think bringing together two market leaders in their respective categories is a ‘one plus one equals three’ situation.

 

Beat the Q has enjoyed tremendous growth over the past year, processing over 500,000 orders for hot drinks through the app. Over 250 cafes around the country have signed up to it, including Toby’s Estate, Danes, Marionette, Sonoma, Campos Coffee, Gabrielle Coffee, GG Espresso, and Mecca Espresso.

 

“It means Beat the Q will be the go-to platform for merchants and consumers who are seeking a seamless, easy to use system capable of managing orders, payments, and loyalty benefits” says Theobald.

 

Beat the Q has funded the acquisition by completing a capital raising with current and new shareholders including Greg Wilkinson (Founder, Reckon Limited), James Spenceley (CEO, Vocus Communications), and former AFL star Leo Barry.

 

“Having the founders of two of Australia’s most successful technology companies back us as investors is a huge boon for Beat the Q. We’ll now be able to draw on the experience, insight, and advice from James and Greg, who have driven sustained growth on the ASX for Vocus and Reckon respectively” says Theobald.

 

“Adam and his team have developed a fantastic product and platform, one that is making mobile payments seamless and simple,” said James Spenceley, CEO of ASX-listed Vocus Communications.

 

“The ECC acquisition is great because the synergies between the businesses will catapult them forwards together. Growing via acquisitions was very successful for Vocus, giving us product and scale faster than we otherwise could have developed them.

 

“I am thrilled to be an investor in Beat the Q and I hope to see them make further intelligent acquisitions in the future.”

 

Corporate contact:

Adam Theobald

CEO, Beat the Q / eCoffeeCard

0403 580 884

 

Media Contact                                                                 

Vuki Vujasinovic – Click PR

0422 492 660

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Background re number of cafes:

http://www.ibisworld.com.au/industry/default.aspx?indid=2015

http://www.smh.com.au/entertainment/restaurants-and-bars/independent-cafes-left-counting-their-beans-20120720-22fdp.html (2000 chain cafe outlets, 8000 independent, 2012)

You have a great business idea? Now what?

Feb 13, 2014:  Beat the Q is featured in the SMH (and around the Fairfax network) in an article talking about what comes next after coming up with a great business idea.

Adam Theobald, our CEO talks to Gary Nunn about the idea and how it got started.

Read the full article here. Thanks SMH!

 

Lifehacker ‘Elevator Pitch’ features Adam Theobald and Beat the Q

Feb 11, 2014:  Lifehacker, Australia’s leading ‘part technology, part productivity’ guide features Beat the Q in it’s regular “Elevator Pitch” feature.

Want to know the answers to these questions regarding Beat the Q?

  • What strategies are you using to grow and finance your idea?
  • What’s the biggest challenge facing Beat the Q?
  • How do your differentiate Beat the Q from your competitors?

Adam Theobald, Beat the Q CEO answers them in the full article here at Lifehacker

Beat the Q and Adam Theobald: “Convenience Creator”

Feb 10, 2014:  ”Convenience Creator” is the latest label for Beat the Q CEO Adam Theobald according to Telstra Smarter Business magazine.

For the full story and interview, click here.

“When we last spoke to Adam, Beat the Q had just become part of the daily ritual of many Sydneysiders. It’s since surpassed 500,000 orders for hot drinks and processed more than $2 million in order value, which equates to over 150,000L of coffee. We catch up with Adam to find out how he and Scott respond to industry resistance, ways they beat technological challenges and what are their goals for the next year.”view full story.

Beat the Q saves two million minutes of wait time

Dec 2013:  Beat the Q, a free app allowing users to order and pay for coffee en-route to their regular café, is saving Australian workers more than 2.5 million minutes of tedious waiting time.

Read the full article here.

Thanks to the team @ BeanScene Magazine

Beat the Q: Half a million coffees and counting

Dec 10, 2013:   Beat the Q is a free app allowing users to order and pay for coffee en-route to their regular cafe, is boosting energy levels and productivity, saving Australian workers over 2.5 million minutes of tedious waiting time.

See the full article here.

Thanks to Matt @ Shoe String