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Retail tech provider Swiftly acquired alcohol promotions platform Bybe, co-founder Sean Turner tells Axios exclusively. 

Why it matters: The deal will augment Swiftly's alcohol cash-back offering and give retailers another avenue to court adult beverage shoppers. 

Zoom in: Bybe has established connections with suppliers, retailers, and particularly good relationships with regulators, which is important in a heavily regulated space, Turner says.

Bybe co-founders, Drew Knight and Ryan Moore, will join Swiftly's leadership team.

Financial terms of the details weren't disclosed.

Zoom out: "Alcohol is a super important category for retailers to win" because it can help increase shoppers' basket size in terms of value and volume, Turner says.

Typically, when you're buying wine, you're buying dinner too so an alcohol purchase has the effect of driving the rest of your meal purchases.

When a shopper's basket has alcohol, their basket is going to be 40% larger than a basket sans alcohol, Turner says.

The big picture: The value of alcohol e-commerce is expected to grow by $7.5 billion over the next five years, reaching about $40 billion by 2027, according to alcohol market research firm IWSR.

While online consumer shopping in the category has slowed from the pandemic bump, "those who continue to do so are increasing their frequency," per an IWSR report.

Concurrently, there has been an increase in buying alcohol in physical supermarkets and grocers and on-premise, the report says.

Yes, but: Some pandemic-era bets on the category, like alcohol-delivery service Drizly haven't panned out.

After acquiring Drizly for $1.1 billion three years ago, Uber decided to shutter the service in January.

Catch up quick: Swiftly raised a $100 million Series C round in 2022 led by Hong Kong-based BRV Capital Management, which valued the company at the time at around $1.1 billion to $1.2 billion. 

Its total funds raised sits at $210 million.

"We're still in a position to have years of runway," and to make more moves like this acquisition where warranted, Turner says.

Exclusive: Swiftly acquires alcohol promotions platform Bybe

The deal will augment Swiftly's alcohol cash-back offering.

an illustration of a drinking glass with a dollar symbol shaped straw sticking out of it

Retail deals

Retail tech provider Swiftly acquired alcohol promotions platform Bybe, co-founder Sean Turner tells Axios exclusively. Why it matters: The deal will augment Swiftly&#x27;s alcohol cash-back offering and give retailers another avenue to court adult beverage shoppers.

Exclusive: Swiftly acquires alcohol promotions platform Bybe

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