Former C-store Chain Execs Invest in Expanding Technology Company
CLEVELAND — Technology company Liquid Barcodes, which provides loyalty marketing platform and "order and pay" solutions for the convenience store industry, is embarking on a global expansion plan in part to an investment from former c-store chain executives.
Bob Stein, chairman of the board of Liquid Barcodes and former CEO of Kalibrate Technologies and Dairy Mart Convenience Stores, and Quinn Ricker, former CEO of Ricker Oil, have each made personal investments in Liquid Barcodes, along with a private investment group.
"I am thrilled to part of Liquid Barcodes as I am huge believer in loyalty programs for convenience store operators. Their approach to customer engagement is the key, beyond offering just coupons and discounts, it creates the ability for stores to stay connected with their customers on a 24/7 basis, to build trust and differentiate their brand," said Ricker. "As someone who is passionate about innovative technology, I am incredibly excited that our industry now has access to this state-of-the-art functionality that we need more than ever — from gamification through to mobile capabilities, as well as subscription programs that drive revenue across every category, from car wash to coffee and food."
With the capital its raised, Liquid Barcodes' global expansion plans include major growth plans in the United States. Funds will be utilized to increase resources in product development, customer support, and sales and marketing.
"We are so pleased to have secured this additional capital to support our strategic growth plans in the U.S. and globally, but even more delighted to have industry veterans like Bob Stein and Quinn Ricker on our management team as we take Liquid Barcodes to the next level," said Liquid Barcodes CEO Mats Danielson. "I am now even more excited about the company's plans to serve the global convenience store market."
Founded in Oslo, Norway in 2000, Liquid Barcodes is a leading loyalty technology company specialized in the c-store and foodservice industries. With U.S. operations in Cleveland, its clients around the world include 7 Eleven, Circle K, Coca Cola, Red Bull, Valora and Reitan Convenience.
"I am proud to be involved with the team at Liquid Barcodes with their laser-focus on the convenience store industry — the company is now superbly positioned to become the industry leader in the U.S. and around the globe," said Stein. "Most recently, their release of an 'order and pay' solution in response to the COVID-19 crisis has shown their unique ability to innovate and lead the c-store industry and support social distancing for customers, employees and franchisees."