Slice is a tech startup that provides consumers with an online ordering platform. The company serves independent pizzerias with technology services that provide a point of sale system that is created specifically for companies in the pizza industry. The enterprise has been remarkably successful since its inception. Its unique services reach out to smaller as well as larger businesses with services that have the potential to streamline and transform the way smaller pizzerias fulfill orders. Here are 20 things you didn't know about Slice.
1. Slice maintains a narrow focus
Part of the reason for the success of Slice is that it serves one niche of the fast-food industry. The Slice platform is uniquely designed to serve the point-of-sale needs of independent pizzerias. This is the only type of business that it currently serves, according to Techcrunch, therefore Slice can focus on the details that make a difference in providing top-notch delivery of services for these companies.
2. Slice will change the way pizzerias deliver their products
We learned that there are still many pizzerias that use pen and paper to take orders. They also rely on cash registers for completing sales transactions. These are non-digital methods that are time-consuming and require an extra step. Slice offers a new way of completing these transactions that take them into a digital realm that does away, at least in part, with the need to use these outdated processes. In short, it has the potential to streamline the processes and create more efficient systems for the businesses that use the platform.
3. Slice also adds reward programs
The technology to enhance customer service is built into the Slice platform. It even includes a rewards program for diners. This feature can help to create loyalty for the pizzerias and bring in more business with regular customers to gain access to the rewards program.
4. Slice offers a different POS system than other providers
According to the CEO of Slice, the point-of-sale system that Slice provides differs greatly from that of other tech providers. The others do not concentrate on the needs and workflows of those in the pizzeria industry. This is where Slice differs from the rest of them. It has paid close attention to the processes involved in this specific niche of the food delivery industry to streamline the processes and encourage online ordering. They point out that on average of 19 percent of orders are made online, with the majority of orders either placed face to face or over the phone. The largest competition for these pizzerias is Dominos, the largest pizzeria with average online orders at 75 percent.
5. Slice offers a new register for users
Pizzerias that sign up with slice will receive an upgraded system that is piped directly into the Slice online ordering system. New state-of-the-art equipment makes the pizza ordering and fulfillment process go much faster and easier. It provides a Slice Register that is loaded with the appropriate hardware that includes an iPad, along with the software that is integrated into the ordering system. It also provides a mobile marketing component with a view of each customer all in one platform.
6. Pizzerias are not charged for the initial setup of Slice
We also learned that the Slice Register is provided for pizzerias who want to participate with no charge initially, for the hardware or the software. This is a tremendous incentive for the businesses to come on board and give the system a try. They're also provided support for mobile marketing and email. It's designed to give them a boost in the marketing sector. The only fees that participating businesses are charged is for the processing of payments.
7. Slice offers an enticing rewards program
Slice may be a way for pizzerias to attract more customers to their businesses. The Slice Rewards program offers diners who choose to order pizzas online through the system a free large cheese pizza. The currently offered rewards program gives online customers one free pizza for every 8 orders they place with a value of at least $15 or more. This is an incentive that encourages repeat use of the Slice system. The best part of this deal is that Slice covers the cost of the free pizzas so there is no financial burden on the participating pizzerias.
8. Slice is gearing up for a big expansion
According to LinkedIn, Slice looks like it's getting ready for a big expansion. We saw that it is currently listing a total of 77 new job positions within the company. There are key positions for customer support, management product management, and more listed for locations in New York, Philadelphia, California, and other locations around the United States. This tells us that Slice is rapidly expanding its reach.
9. Slice is also international
When we were looking through the job announcements for Slice, we saw multiple job advertisements for locations outside of the United States as well. There are several new job openings for a variety of positions offered in North Macedonia. Cities like Skopje, Skopsi, Debar in Southwestern Macedonia, and Ohrid are listed. They're hiring various positions such as production designers, customer support representatives, and more. Slice has expanded the scope of its operation to include countries outside of the United States, making it an international company.
10. Slice is made to save everyone money
According to Built In New York City, Slice's developers built an economics benefit into the system that has the potential to save all stakeholders in the process money. It's made to provide a cheaper way for pizzerias to deliver their services. It also provides incentives for consumers that can save them money in online pizza orders over other POS companies. This is a strategy that is helping Slice to take a bigger share of the market percentage pie as it continues to grow and expand.
11. Slice is in all 50 states
Slice relies on its partnerships to remain competitive in business. It has secured agreements with pizzerias from all 50 states. It now works with more than 12,000 companies and it is adding more daily. One of the unique problems associated with partnerships is that smaller pizzerias tend to rely heavily on foot traffic with a grab-and-go platform. The recent pandemic has made it easier for Slice to capitalize on the shut-down orders that have promoted contactless delivery for smaller companies. Those that have weathered the economic storm and remain in business were forced to resort to online or phone orders with contactless delivery or scheduled pickup services to lessen the spread of the virus. Slice is doing its part to make these processes and transitions to the new normal easier for pizzerias and consumers.
12. Slice has a Pizza vs. Pandemic program
Slice is doing its part to help give back to the community by providing free pizza to people who are working on the front lines of the pandemic. The Pizza vs.Pandemic program launched on March 21, 2021, and so far it has fed approximately 140,000 workers including those in the medical profession and others. So far the program has raised $481,000 in funds for this valuable and thoughtful community service. This also helps to keep the pizzerias afloat with business because Slice foots the entire expense for the deliveries of free pizzas.
13. Slice is entering its 11th year of business
According to Crunchbase, Slice is a tech startup that is just beginning to reach a new stage of maturity. It has been in business for over a decade now. The company was founded in 2010 with its headquarters in the Greater New York area. The legal name of Slice is MyPizza Technologies, Inc. The business was founded by Ilir Sela.
14. Slice is listed under multiple industries
Slice offers a host of valuable services for restaurants with its sole focus on pizzerias. The versatile tech startup is listed on the internet under several headings including e-commerce, food and beverage, food delivery, and restaurants. It's made good progress in ranking on Google browser searches which makes it easier to find when companies are looking for solutions for their online ordering processes. It's on track to become a leader in the POS industry.
15. Slice has raised millions in venture capital funding
Slice has been successful in attracting the attention of multiple venture capital firms. So far it has participated in a total of 6 funding rounds. It qualifies as a late-stage investment company that has received 6 rounds of fundraising. So far, Slice has raised a total of $125 million in funding from its investors.
16. Slice has a strong network of confident investors
Slice has done a good job of presenting its case to potential investors. It's often difficult for new startups to convince venture capital firms of the potential for future profitability. This hasn't been the case with Slice. So far, the company has attracted a total of 13 investors with 3 lead investors. These include Cross Creek, Kohlberg, Kravis Roberts, and GGV Capital taking the lead. Slice raised $4 million in a Seed round in March of 2015, followed by a round of Series A funding that raised an additional $3 million, in August of 2016. In May of 2017, the second round of Series A funding yielded an additional $15 million, followed by a $20 million Series B round in 2019. In 2020, a Series C round raised an extra $43 million from 3 investors, followed by the most recent round of Series D funding in 2021.
17. Slice is a privately held enterprise
Slice is still a privately owned company. It has not offered any indications or plans for going public. Most companies file for an IPO to go public for fundraising for expansion. Slice is so well supported by its team of 13 private investors that it does not need to use the other method of fundraising. Investor confidence is high and provides all the funding necessary for Slice to continue to grow and expand.
18. Slice uses complex technology to power its website and software programs
We also learned that Slice relies upon a suite of technology products and services to power its website and integrated payment processing system. It actively requires the use of 75 technologies that are presented in 36 technology products. A few examples of the products used for Slice include Viewport Meta, IPhone for mobile compatibility, Google Analytics, and dozens more. There is a lot that goes on behind the scenes that many users do not realize when using the services.
19. Slice is run by a team of 13 executives
Slice has grown into a very large operation that requires the combined efforts of a large group of executives. At this stage in its growth, the executive team consists of 13 members. This includes the founder and chief executive officer, Ilir Sela, The Chief Technology Officer Jason Ordway, the Chief Product Officer Preethy Vaidyanathan, the Chief Business Officer PJ Oleksak, the Chief People Officer Jacqueline Meyer, the vice president of brand and creative Terrence Morash, The director of strategic content, marketing and performance Cara Meiselman,
20. Slice is a company to keep your eye on
Slice is taking the pizza industry by storm. It is growing and prospering adding new partners daily. So far, there has been no press release about the current valuation of Slice. We're assuming that the majority of funds raised are going into its ever-expanding outreach and the technology systems are expensive. To our knowledge, it has not yet reached unicorn status. The privately held company is keeping its financials private for the time being. We fully expect this company to continue to grow under the current economic conditions where businesses are not allowed to fully open for full-capacity dining on the premises. Slice is a company to keep your eye on as the outlook for its continued growth and future profitability is good.
Written by Allen Lee
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