Starbucks takes a stake in restaurant tech company
Starbucks Corp. said Monday that it will take an equity stake in Brightloom, a restaurant technology company previously called Eatsa. As part of the deal, Brightloom will license Starbucks' mobile and loyalty technology to use in its existing platform. With this upgraded platform, Brightloom aims to offer restaurant brands an all-in-one option for mobile, payments, order management, loyalty, and other functions. Brightloom has also closed a $30 million round of funding that includes Starbucks licensees Alshaya Group and Alsea, as well as Tao Capital Partners and Valor Equity Partners. Starbucks stock has gained more than 41% for the year to date while the S&P 500 index is up 19.1% for the period.
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