Blasting Off Into The Future
Today, I'm excited to announce that Untappd's parent company, Next Glass, received a significant growth investment from Providence Strategic Growth (PSG), a growth equity firm.
Over the last couple of years, Untappd has been accelerating at a rapid rate, including growing our technology, business, and customer base to nearly 20,000 venues on Untappd for Business, close to 900 million check-ins, and to 8 million app users. We are always looking to continue improving our business, to push us to the next level to build better products for you. We believe that with this new investment, we will be able to scale our product and engineering team to new heights in order to provide amazing improvements to both our business and consumer products.
We realize that we are living through an unprecedented situation, which is why, in conjunction with this investment, we have established $2 million of COVID-19 payment relief for new and existing Untappd for Business customers with support from PSG. This will allow for deep discounts for new customers as well as deferred renewals for existing customers. We are committed to helping bars, restaurants, breweries, and other venues around the world rebuild after COVID by reconnecting with beer enthusiasts.
After meeting with Providence Strategic Growth and getting to know their team over several months, it became clear that they share the same vision that we had when Untappd first launched almost 10 years ago. Their expertise and resources will help Untappd scale to continue to provide best-in-class solutions in the beverage space for years to come.
With this investment, Untappd's CEO, Kurt Taylor is stepping down but will continue to be a member of the Board of Directors, and Trace Smith (previously COO) will run the company as the new CEO. I will also be moving from CTO to CCO (Chief Creative Officer). In this new role, I will continue to grow our media presence and be more involved with the community. That involvement will help me to translate the Untappd community's feedback into our products.
Untappd will still be dedicated to providing the best quality experience for all users in the community, just like we promised when we merged with Next Glass in 2014. Since our founding in 2010 to today, we are incredibly grateful for all the support from the community. Those that know me to know that Untappd is a huge part of my life - it brings me so much joy to see us continue to invest and grow our products for the community.
I'm excited to get to work to help write the next chapter of Untappd and to see you all in the app! You can read the official press release here.
Founder of Untappd
Thu, 23 Apr 2020 14:05:13 +0000