Today, Slice — the innovative tech platform powering the largest network of pizzerias nationwide — was named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2021. Slice was ranked number 5 in the Dining category.
Fast Company’s editors and writers sought out the most groundbreaking businesses across the globe and industries. The list honors the businesses that have not only found a way to be resilient in the past year, but also turned those challenges into impact-making processes. These companies did more than survive, they thrived—making an impact on their industries and culture as a whole. This year’s list features 463 businesses from 29 countries.
Innovative companies that keep local thriving
The pandemic took the value of and need for Slice’s mission—keep local thriving—to a completely different level. So, as small businesses scrambled to move online, the predatory practices of third party delivery apps were scooping up most of their revenue. In 2020, shops using Slice saved over $200 million compared to third party apps. Since March 2020, per shop sales saw a 65% lift at its peak. Driven by a 41% increase in orders per shop and a 20% increase in average order value. Because of Slice’s flat-fee per order model, regardless of size, the vast majority of these sales went to the small businesses, and that value is passed onto the consumer.
Pizza vs. Pandemic
But Slice wanted to do more — in March, they teamed up with Slice Out Hunger to form Pizza vs. Pandemic. The innovative program supported front line care workers and small businesses by raising donations to feed workers with coordinated large orders from local pizzerias. As a result, this initiative has raised $638K, fed an estimated 191K workers, and supported over 1.5K local pizzerias.
Slice Accelerate
As it became clear that PPP funding was running out and the pandemic will only get worse, Slice knew it could do more for small businesses. Slice then formed an incubator program called Slice Accelerate. The initiative’s first cohort will receive or have already received $15,000 worth of technology and services to strengthen their businesses. The goal is to help these shops become pandemic-proof and set up for future success by enabling them to compete against big pizza franchises and third-party apps’ predatory practices. Within hours of its launch on September 17, the program had over 1500 applications and counting. The initial Slice Accelerate restaurants are already seeing significant results: their online sales have increased by 330%.
Slice Named One of World’s Most Innovative Companies
The World’s Most Innovative Companies is one of Fast Company’s most highly anticipated editorial efforts of the year. It provides both a snapshot and roadmap for the future of innovation across the most dynamic sectors of the economy.
Fast Company Deputy Editor David Lidsky, who oversaw the issue with Senior Editor Amy Farley.
“In a year of unprecedented challenges, the companies on this list exhibit fearlessness, ingenuity, and creativity in the face of crisis.”
Fast Company’s Most Innovative Companies issue (March/April 2021) is now available online here. Additionally, the issue is available in app form via iTunes and on newsstands beginning March 16, 2021.