Following the acquisition of Drive Yello and Hey You, newly established entity 4You Innovation has launched to market.
Bringing together last mile delivery provider, Drive Yello, and order ahead platform, Hey You, 4You Innovation has the united goal of helping retailers meet the increasing consumer demand for convenience.
Both companies’ leadership teams will remain while Steve Fanale, Founding CEO of Drive Yello, and co-CEO Asheesh Chacko, will head up 4You Innovation.
Fanale said consumers want convenience when they shop online and expect flexibility, speed, and certainty at affordable prices.
“By merging Drive Yello and Hey You into one powerhouse, we will provide a single local ecommerce enablement experience for retailers that delivers best-in-class technology, services, and products. This will help retailers keep up with consumer expectations.
“4You Innovation has a strong and sustainable business growth plan that includes continued expansion nationally and the development of new convenience products that will help us attain greater market share and a more diversified convenience offering.”
4You Innovation is forecast to achieve $100 million turnover in FY23 with 5,000 active vendors, 5,500 active couriers, 10 million orders, and 100,000 active customers.
Peter Hammond, Chairman of Hey You, said there are many synergies between their business model and Drive Yello so the merger makes sense.
Bringing our teams together will enable us to develop new services to our established client base and expand our total addressable market.”
Drive Yello, which was established in 2015, has experienced 150 per cent YoY growth on average over the past two years, while Hey You, also established in 2015, continues to expand its network of cafes to provide its order ahead purchase experience for over 100,000 café goes nationally.