Location: Toronto, Ontario
Industry: Enterprise Software
Company Overview: Turnstyle offers a service that allows businesses to connect with their customers over a freely provided Wi-Fi network. Turnstyle also offers insights into customer behavior, visits and more. Customers who agree to use the free Wi-Fi provide their email address, which then allows the business to build out a target customer contact lists. The businesses can also take advantage of analytics tools that provide additional insight into visits – tracking things like frequency, to identify their most loyal customers, and duration, among other factors.
Our Story: Matt met the CEO of Turnstyle, Devon Wright in the summer of 2012. By September, Matt had decided to write the first cheque to get the company off the ground. Matt helped move the company from idea in 2012 to exit to Yelp! in less than 5 years through hands-on operations, strategy and business development guidance. Following the exit of Turnstyle, Ripple was born!
Exit: Yelp acquired Turnstyle in April 2017 for US$20M cash. The play by Yelp aimed to expand the types of business marketing services Yelp already offers beyond those that are focused on customer acquisition, to also include those that help businesses with customer retention and loyalty.