Quick

growth-positive

Electra Consumer Products (אלקטרה צריכה) is taking over online retailer Quik and establishing a joint company with it to sell food and consumer products online. The operation will be based on Quiks platform, alongside the products and national distribution of Beitin Wines, owned by Electra Consumer Products. The new partnership will allow significant expansion of online sales and provide an advantage over competitors. The parties will invest an initial capital of 30 million shekels in the new partnership.

growth-negative

Online retailer Quick has reported a net loss of 8.1 million shekels for the third quarter, similar to the same period last year. The company, which had previously turned a gross profit, returned to losses as the timing of the Tishrei holidays led to a 30% drop in sales in September. This resulted in a low sales growth rate of 16.3% for the third quarter, compared to the growth it had shown so far, which amounted to 43% in the first nine months of the year. In March, Quick completed a fundraising round of 88 million shekels, based on a company value of 300 million shekels. However, since it began trading, the companys stock has fallen by 69.6% and it is now traded at a company value of 91 million shekels.

growth-negative

The article discusses the financial performance of online supermarket Quick Super Online and eyewear company Warby Parker. Despite the positive results, Quick Super Onlines stock price is declining. The article also mentions a strategic partnership between TikTok and Shopify, which will allow TikTok users to integrate a new Shop button in their profiles. The author believes in the potential of Quick Super Online, as the e-commerce revolution continues to grow. The article does not mention any specific investors or acquisition amounts. The event described in the article is recent, but the exact date is not provided.

growth-negative

Online retailer קוויק raised 88 million shekels in its initial public offering (IPO), falling short of its original target of 100 million shekels. The company will begin trading on the stock exchange this week. Despite a significant increase in sales, קוויק reported a deep loss in the first nine months of 2020. The companys sales amounted to 86.7 million shekels, a 430% increase compared to the same period in 2019. However, the companys losses deepened to 27.7 million shekels, compared to a loss of 16.2 million shekels in the first nine months of 2019.

growth-positive

Online grocery company Quik, which counts Super-Pharm and Coca Cola Israel among its investors, is planning an initial public offering (IPO) on the Tel Aviv Stock Exchange. The company aims to raise between ILS 80 million and ILS 120 million at a pre-money valuation of ILS 400 million to ILS 500 million. Quik, which operates under the name Bring Bring Solutions, plans to use the funds to accelerate its expansion. The company reported rapid growth alongside increasing losses, which have accumulated to around ILS 70 million since its inception.

growth-positive

Israeli online supermarket startup Quik has experienced significant growth due to the coronavirus epidemic. The company has moved up its business plan by two years and secured a 50 million shekel ($13.6 million) investment. Quik operates Israels only online grocery, and its annual sales rate has doubled to 200 million shekels. The round of funding values the company at 200 million shekels and was funded by existing investors, including Central Bottling Company, Super-Pharm, and Union Tech Venture. Quik plans to use the investment to expand its operations, recruit more customers, and improve its technology and customer service. Despite the current growth, the company is not yet profitable but aims to become profitable within the next year.

growth-positive

Super-Pharm, The Central Bottling Company Ltd., and Union Tech Ventures have invested a combined sum of about NIS 36 million in online supermarket startup Quik. Each of the three companies will get a stake of about 22% in Quik. Quik operates a digital store where customers can order groceries and have them delivered within four hours. The investment was made at a $25 million post-money valuation for Quik.

growth-positive

Super-Pharm, an Israel-based drugstore chain, has invested in online supermarket startup Bring Bring Solutions, Ltd. The amount of investment was not disclosed, but Super-Pharm holds an option to own up to a 25% stake in Bring Bring. The goal behind the investment is to increase usage of Super-Pharms credit-based membership card, LifeStyle.

growth-positive

Israeli online food retail startup BringBring, in which Coca-Cola Israel has invested, promises to facilitate supermarket deliveries within four hours by sending them from nearby supermarkets. The startup aims to compete with online supermarket websites for orders over NIS 200. BringBring connects orders to the nearest supermarket and handles the ordering and payment process. The venture also offers support with field personnel and shell companies. The benefits for neighborhood mini-markets include a new revenue stream with larger shopping cart purchases. BringBring aims to be a significant player in the market and provide competitive prices. The venture currently covers the Dan region in Israel.

growth-negative

Coca Cola Israel has acquired a 25% stake in BringBring, an online food retailer, in an effort to challenge Super-Sol, the countrys biggest supermarket chain. BringBring promises faster and free deliveries compared to Super-Sols online supermarket. Coca Cola Israel has been in conflict with Super-Sol since the supermarket chain launched a line of private label colas that sell for less than Coke. The acquisition of BringBring is seen as a strategic move to compete with Super-Sols dominance in the online market. BringBring, founded by former CEO of Diplomat and a former vice president for marketing at Coca Cola Israel, is rolling out its service nationwide with the support of supermarket chains.