Mobile ordering platforms me&u and Mr Yum to merge

Australian mobile ordering platforms me&u and Mr Yum are merging with their eyes set on domination of the global hospitality industry.

A representative for the newly formed entity told Digital Nation that both companies plan to become the world’s number one platform in mobile ordering, payments and marketing tools for the hospitality industry.

“Both companies are focused on the same vision of transforming hospitality on a global scale to build a better future for the industry, and this helps us get there faster,” a spokesperson said.

The name of the new entity has not announced yet.
For both companies, this merger will lead to accelerated product innovation for their customers through collective investment in one set of features rather than a duplication of efforts.

When the merger is completed, the new entity will be in 6,000 venues collectively, processing over $2 billion of restaurant transactions annually across Australia, New Zealand, UK and USA.

The combined company said it is on track to reach profitability in 2024 with significant cash reserves.

The combined company will be led by Kim Teo, Mr Yum’s co-founder, as CEO. Stevan Premutico, me&u’s founder will sit on the board as a non-executive director, with me&u chair Damian Smith appointed as the chair.

Teo said, “Over the years of competing in the marketplace, we’ve always had a deep respect for each other and are excited to learn from each other.

“From our international expansion efforts, we learnt that Australia has the highest penetration of QR code table ordering globally. We’re humbled that two Aussie-founded companies have built the best & most adopted platforms in our sector - used by thousands of venues and millions of guests.”

Premutico said this is a “rare opportunity” to see two Australian companies coming together.

“A shared ambition to blend together technology and great experiences to build a better, smarter future for our industry,” he said.

“Today’s announcement marks the beginning of a crazy exciting new era that will benefit customers and business owners around the world.”

Both companies were founded in 2018, me&u in Sydney and Mr Yum in Melbourne.