ShiftPixy Introduces ShiftPixy Labs
July 29 2020 - 9:00AM
ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement
platform provider, today announced the launch of ShiftPixy Labs – a
new suite of marketing and support services for quick service
restaurant operators (QSRs) seeing increased opportunities in the
gig economy due to coronavirus restrictions and lockdowns.
Coming on the heels of the financial collapse of 2008, the gig
economy began to emerge in 2009 with platforms like Uber. Since
then, it has exploded in size and popularity: more than a third of
the workforce in the United States is part of the gig economy and
the global gig marketplace is estimated at $4.5 trillion. Areas of
this market are still in a growth phase, with approximately $27
billion in new funding applied to third-party delivery startups
alone.
At the start of 2020, the restaurant industry was already
experiencing challenges caused by third-party delivery services and
lost customer engagement, as well as employee retention and
compliance. The arrival of the COVID-19 pandemic exacerbated these
existing dilemmas and gave ShiftPixy’s approach to the gig economy
a boost by providing operators the agility they need to meet the
demands of a changing marketplace.
Through its unique gig engagement platform, ShiftPixy empowers
restaurant operators to take full advantage of their human capital
with powerful functionality to handle payroll, compliance and
native delivery. The Company expects ShiftPixy Labs to provide
additional layers of services and engagement, from business startup
clear through to customer meal delivery.
“2020 has been a year of tremendous growth and transformation
for ShiftPixy and I’m proud of the work we’ve accomplished in
helping restaurants adapt to the challenges posed by COVID-19,”
said ShiftPixy Co-Founder and CEO Scott Absher. “ShiftPixy Labs is
the next stage in our evolution. This is a bold new project that’s
aiming to change the way restaurants are built from the ground
up. In light of the combined forces of gig economics and
COVID, we think ShiftPixy Labs will be a vital resource for making
operators agile amid market upheavals like we are experiencing
today. We look forward to sharing more details of this
exciting venture in the coming weeks.”
About ShiftPixy ShiftPixy (PIXY) provides a
disruptive human capital management platform, revolutionizing
employment in the Gig Economy by delivering a next-gen mobile
engagement technology to help businesses with shift-based employees
navigate regulatory mandates, minimize administrative burdens and
better connect with a ready-for-hire workforce. With expertise
rooted in management's nearly 25 years of workers' compensation and
compliance programs experience, ShiftPixy adds a needed layer for
addressing compliance and continued demands for equitable
employment practices in the growing Gig Economy.
ShiftPixy Cautionary Statement The information
provided in this release includes forward-looking statements, the
achievement or success of which involves risks, uncertainties, and
assumptions. Although such forward-looking statements are based
upon what management of the Company believes are reasonable
assumptions, there can be no assurance that forward-looking
statements will prove to be accurate. If any of the risks or
uncertainties, including those set forth below, materialize or if
any of the assumptions proves incorrect, the results of ShiftPixy,
Inc., could differ materially from the results expressed or implied
by the forward-looking statements we make. The risks and
uncertainties include, but are not limited to, risks associated
with the nature of our business model; our ability to execute the
Company's vision and growth strategy; our ability to attract and
retain clients; our ability to assess and manage risks; changes in
the law that affect our business and our ability to respond to such
changes and incorporate them into our business model, as necessary;
our ability to insure against and otherwise effectively manage
risks that affect our business; risks arising from the Covid-19
pandemic or any other events that could cause wide-scale business
disruptions; competition; reliance on third-party systems and
software; our ability to protect and maintain our intellectual
property; and general developments in the economy and financial
markets. Statements made in connection with any guidance may refer
to financial statements that have not been reviewed or audited. The
Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change, except as required by applicable securities laws.
The information in this press release shall not be deemed to be
"filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934, as amended, or otherwise subject to the liabilities of
that section, and will not be deemed an admission as to the
materiality of any information that is required to be disclosed
solely by Regulation FD. Further information on these and other
factors that could affect the financial results of ShiftPixy, Inc.,
is included in the filings we make with the Securities and Exchange
Commission from time to time. These documents are available on the
"SEC Filings" subsection of the "Investor Information" section of
our website at
https://ir.shiftpixy.com/financial-information/sec-filings.
Consistent with the SEC’s April 2013 guidance on using social media
outlets like Facebook and Twitter to make corporate disclosures and
announce key information in compliance with Regulation FD,
ShiftPixy is alerting investors and other members of the general
public that ShiftPixy will provide updates on operations and
progress required to be disclosed under Regulation FD through its
social media on Facebook, Twitter, LinkedIn and YouTube. Investors,
potential investors, shareholders and individuals interested in our
Company are encouraged to keep informed by following us on
Facebook, Twitter, LinkedIn and YouTube.
INVESTOR CONTACT: Investor.Relations@shiftpixy.com
800.475.3655
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