The Ledger
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Ilir Sela turned down an $18 million acquisition offer for MyPizza
“I had just gotten my first acquisition offer. You know, the offer to sell the company for eighteen million dollars would have been awesome. Sole owner. No debt. Eighteen million dollars would have been great. And I turned it down.”
Slice charges pizzerias seven to eight percent of generated revenue
“You know, all in all, Slices products cost about seven or eight percent of the revenue that we create for the merchant.”
Ilir Sela: Pizzerias thrive during recessions as consumers trade down
“In recessions, in fact, consumers will tend to turn their nights out in, and instead of going out to a restaurant, they'll order pizza at home, and they'll have a family pizza night. Pizzerias thrive, especially in the most challenging times, and this was also…”
Slice employs roughly 650 people in Macedonia
“Today we have about 650 people in Macedonia. We're one of the largest employers in the country.”
Slice operated with only one engineer for five years
“I mean, I had one engineer his name is Sam Kennedy. He's incredible. He's the only engineer and product person and tech person. He's the only tech person we had in the company for five years.”
Sela: Small business failure rates will stay high without end-to-end ecosystems
“Until someone figures out how to build an end-to-end sort of ecosystem that changes the disadvantage that an independent has by being independent, I think small businesses, the failure rate will continue to remain high.”
Sela: Domino's averages $1.2M annually per store, driven by digital volume
“The average Domino's location does about 1.2 million in revenue and sales per year in the US. The Delta of 700,000 is primarily online digital volume. Their phone volume is actually identical.”
Sela: Slice gives partner pizzerias full transparency into customer data
“While slice has access to the customer data, all the customer data is completely transparent to every merchant. We're not an intermediary. We're not a third party. So all the customer data, we have an owner's app. Every pizza shop knows exactly who the custome…”
Sela: Slice is deliberately constraining focus to pizzerias before category expansion
“I think that our model has the right to win in many categories, but we are deliberately continuing to constrain our focus so that we can be the best in class partner for these independents.”
Slice reached $250,000 in monthly profit during its 2015 bootstrapping phase
“When I was bootstrapping the company in 2015, I want to say February of 2015. I look at my spreadsheet. One day I was tracking my company on an Excel sheet, not even on QuickBooks. And in one month we profited about 250,000 dollars.”
Slice had 3,000 restaurant partner locations when bootstrapped in 2015
“We're working with about 3000 locations.”
Sela: US independent pizzerias average $550,000 in annual offline sales
“The average independent pizza shop in the US has total sales of about 550,000 per year. And most of that is phone based. Most of that is either phone or walk in. It's offline.”