- droppTV is the World’s First Shoppable Video Streaming Platform
- MOU signed during the 2021 Future Investment Initiative
- Partnership to enable virtual shopping experience through videos and entertainment
02 November 2021, Riyadh, Saudi Arabia. FOODICS, the leading FoodTech and FinTech company based in Saudi Arabia, has announced today that it signed a Memorandum of Understanding (MOU) with droppTV, the world’s first shoppable video streaming platform.
The MOU, which was inked during the 2021 Future Investment Initiative held in Riyadh, comes on the heels of Foodics announcing a partnership with American Express Saudi Arabia last month, further strengthening its position as a FinTech company.
dropp has pioneered a new genre of native ecommerce, which enables consumers to shop directly within all forms of streaming content. All transactions happen within the filmic flow of the content itself without overlays, ads, pre-rolls, or redirects. dropp is quickly expanding the application of its shopatainment technology across various industries including, music, film, fashion, and now, food & beverage.
Omar Abdulrhahman, Foodics Head of Expansion & Revenue commented, “Our
restaurant management ecosystem is growing with new verticals and embedded marketing tools. We are excited to now be partnering with innovative AR/VR start-ups such as droppTV, powering the very first virtual food-court experience or as they prefer to term it, “eatertainment”.”
This partnership will enable Foodics’ restaurant merchants to have the capability of converting every video they publish into a prime call to action, a shoppable video, as well as have access to cutting-edge AR/VR tools to truly showcase their desired experiences virtually.
“We are delighted to welcome the droppTV team to the extended Foodics family”, he added.
Faisal Al Monai, droppTV Co-Founder and Chairman said, “Expansion into food & beverage is a natural evolution for droppTV. We are excited to work with Foodics, a cutting edge leader in the space, to deliver users a unique entertainment-driven shopping experience.”
Since its inception, Foodics has successfully processed over 5 billion orders through the platform, and over 50,000+ terminals while catering to over 12,000 F&B brands.
The tech company, which offers an all-in-one retail management platform helping retail and restaurant owners run their business, had recently announced its Series B, bringing the total funds raised by Foodics so far to US$28mil (SAR 105mil).
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FOODICS is the leading FoodTech and FinTech company based in Saudi Arabia, with a 360° SaaS Ecosystem that forges ahead in the F&B industry by supporting its end-to-end digitization. Its vision is to become a leading Fintech and software trusted partner globally, for retailers and sellers who want to grow their business.
FOODICS’ mission is to empower restaurant and retail owners with a comprehensive cloud-based POS and retail management system to enrich their operations. It caters to every segment of the F&B sector from traditional dine-in restaurants, cafés, fast food outlets, bakeries, food trucks through to cloud kitchens.
Founded in 2014 and headquartered in Riyadh, Foodics’ fast-growing demand made it available for businesses and sellers across the MENA region, with 7 offices in Saudi Arabia, the United Arab Emirates, Jordan, Kuwait and Egypt. Foodics, the software, is also available in English, Arabic and French, making it one of the most promising SaaS companies in the MENA region. Foodics serves its customers 24/7 and since its inception, Foodics has successfully processed over 5 billion orders through the platform, and over 51,000+ terminals while catering to over 12,000 F&B brands.
droppTV is the industry-leading operating system for “shopatainment”, which brings together content, streaming entertainment and commerce.
droppTV’s ground-breaking, proprietary technology powers shopability within any form of multimedia streaming content, allowing for streamlined purchasing of products seen within content via a simple tap-and-buy feature. All transactions happen within the filmic flow of the content itself – without overlays, ads, pre-rolls and/or redirects. This frictionless marketplace and user journey delivers a more effective monetization model for creators and publishers while providing brands with increased conversions and granular attribution data.
droppTV operates the world’s first shoppable video streaming platform and has also deployed the technology through partners across diverse industries including music, film, fashion, food and gaming.