PIXY stock is trading higher in early market action on August 5, 2020, after the company issued a press release that it is supporting the rapid rise of Ghost Kitchens in response to the COVID-19 pandemic.
ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today added additional commentary around last week’s groundbreaking launch of ShiftPixy Labs, a new suite of marketing and support services for quick service restaurant operators (QSRs). The COVID-19 pandemic has proven a game-changer for QSRs, which are now embracing ghost kitchens in response to social distancing mandates. New ghost kitchens have already raised more than $500 million in capital and are spreading quickly nationwide. Euromonitor expects a $1 trillion market globally by 2030, which could replace up to half of all dine-in volume as early as 2022. ShiftPixy aims to provide sophisticated technology to assist with all aspects of establishing and operating a successful ghost kitchen, and with the launch of ShiftPixy Labs last week, is inviting budding and established restaurant entrepreneurs alike to partner with ShiftPixy to drive their future success.
“ShiftPixy is introducing an innovative approach to physical space requirements, and a format that helps restaurant operators leverage our technology and human capital engagement platform to reimagine and test new ways of becoming better and more agile digital marketers,” said ShiftPixy Co-Founder and CEO Scott Absher. “We look forward to sharing more in the coming days on the exciting opportunities ahead for restaurateurs across the U.S. to forge long-term vital partnerships with us.”
Through ShiftPixy Labs, the Company expects to provide additional layers of services and engagement, from business startup clear through to customer meal delivery. The new functionality builds on the traditional ShiftPixy gig engagement platform that empowers restaurant operators to take full advantage of their human capital with cutting edge tools to handle payroll, compliance and native delivery.
ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.