Appetize

Appetize Technologies Inc. provides a cloud-based digital commerce platform tailored for high-volume, enterprise-level clients in sectors such as sports and entertainment, hospitality, education, and restaurants. The company was founded in 2011 by three middle school friends: Max Roper, Kevin Anderson, and Jason Pratts. The inspiration for the business came from their shared frustration with the inefficient ordering process at a Los Angeles Lakers game, sparking the idea to create a better in-seat mobile ordering application.

The founders, with diverse backgrounds including professional golf (Anderson) and business (Pratts), initially launched Appetize as a consumer-facing app for ordering food directly to seats in stadiums. However, while implementing their solution, they discovered that the underlying point-of-sale (POS) systems in these large venues were archaic and ripe for disruption. This insight led to a crucial pivot. The company shifted its focus from a simple fan-facing app to developing a comprehensive, enterprise-grade POS platform. This new system was designed to be wireless, portable, and cloud-based, offering robust back-end features that surpassed what was available from competitors geared toward small businesses.

The business operates on a B2B model, providing its platform to large-scale venues and chains. Revenue is generated through a subscription model, where clients are charged based on the number of terminals leased and their operational frequency. In 2021, Appetize introduced Appetize Payments, an all-in-one solution that bundles payment processing with their software suite to streamline operations and offer more transparent pricing for their clients. The company’s product suite is an omnichannel platform that includes modern POS terminals, self-service kiosks, handheld devices for mobile transactions, and online/mobile ordering capabilities. A key component is the web-based management portal, 'Connect', which provides real-time analytics, reporting, and multi-site operational control.

Before its acquisition, Appetize had successfully raised over $50 million from investors, including the NFL and Shamrock Capital Advisors. The company's technology was adopted by a significant portion of major league sports stadiums and prominent clients like Live Nation and the San Diego Zoo. In September 2021, Appetize was acquired by SpotOn, a payment and software company, for $415 million. Following the acquisition, Appetize continues to operate as a division within SpotOn, with Max Roper remaining at the helm, focusing on expanding into the enterprise market under the new brand, "SpotOn Enterprise".

Keywords: point of sale, POS system, enterprise commerce, venue management, stadium technology, food and beverage POS, mobile ordering, self-service kiosks, contactless payments, hospitality technology, restaurant POS, theme park technology, SpotOn Enterprise, Max Roper, Kevin Anderson, Jason Pratts, cloud POS, transaction processing, guest experience, inventory management, sports entertainment, cashless solutions