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Marquee Raine Acquisition and Enjoy Technology Accelerate Expansion with Partners and Significant Commitment from Key and Current Investors to Increase Certainty of Transaction Closing
Enjoy Technology, a technology-powered service platform reinventing "Commerce at Home," and Marquee Raine Acquisition have filed
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CIO Applications | Thursday, December 02, 2021

Fremont, CA: Enjoy Technology, a technology-powered service platform reinventing "Commerce at Home," and Marquee Raine Acquisition have filed an updated investor presentation on Form 8-K with the Securities and Exchange Commission in connection with the previously established business combination between Marquee Raine and Enjoy.
"We continue to see an incredible increase in demand for Enjoy experiences and services," stated Ron Johnson, CEO, and Founder of Enjoy. "The upcoming launch of our Smart Last Mile™ solution in North America reflects the trust of our key partners, who have asked us to expand our services to as many markets as possible. To meet the growing demand for personalized 'Commerce at Home' experiences, we expect to begin 2022 with more than 1,000 mobile stores to support our goal of serving nearly 100 markets in North America by the end of next year."
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The investor materials outline Enjoy's recent business developments and operating performance, including:
In the fourth quarter of 2021, Enjoy will launch a full Smart Last MileTM solution in North America. This seismic shift will allow Enjoy to access significantly more inventory and meet a greater proportion of its partners' customer demand. Enjoy intends to use this solution in all existing US markets by the holiday season of 2021.
- In response to partner requests, Enjoy seeks to expand into more than 45 new markets across North America by the end of 2022. Enjoy will serve approximately 100 markets in North America as a result of this significant geographic expansion, increasing its global population coverage from 200 million to approximately 235 million addressable customers. Continued growth with Apple in Summer 2021 triples Enjoy's reach with Apple to over 67 million total addressable consumers in 14 markets.
- To meet these expansion needs, Enjoy is committing $10 million in advance investment to ensure that it can launch with more than 1,000 mobile stores in 2022. This investment instills great confidence in Enjoy's 2022 strategy and path to company-level profitability in 2023.
The business combination is expected to be completed [early] in the fourth quarter of 2021, according to Marquee Raine and Enjoy. After the transaction is completed, the combined company will be known as Enjoy Technology, and its common stock and warrants will be traded on the Nasdaq under the new ticker symbols "ENJY" and "ENJYW," respectively.
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