Raydiant challenges local Bay Area retail entrepreneurs to compete for $50,000 SoMa real estate package
“At Raydiant, we are deeply committed to showing up for our community of local entrepreneurs. The pandemic has created a lot of heartbreak and setbacks for restaurant and retail owners trying to get started, and we are thrilled to offer to a growing retailer the opportunity to open their first space or expand their footprint,” shares Bobby Marhamat, CEO of Raydiant. “We will offer commercial real estate, structural construction and financing to help them scale. This is a win for Raydiant and for our SoMa community. We are excited to bring more life to our neighborhood, especially as the residents are returning to the office.”
The ephemeral real estate offer is valued at more than $50,000. The package includes up to 12 months of commercial lease at Raydiant’s headquarters at 35 Stillman Street, a bustling side street in SoMa near Giants Stadium and South Park. Raydiant will cover the costs associated with the structural construction and work with the chosen contractor to design the layout and aesthetics to their liking. Raydiant will offer the winner a $10,000 stipend to be used for marketing and operations expenses to launch their business and equip their retail space with technology and digital signage powered by Raydiant. Raydiant’s platform will allow the chosen retailer to display digital menus, integrate with point-of-sale systems and even offer contactless payment experiences.
The timing couldn’t be better as Bay Area residents are called back to their physical workplaces. Tech companies with SoMa offices, including Google, Uber, Twitter, and Wells Fargo, are transitioning to hybrid working modelsin most cases requiring a “3:2” schedule – 3 days in the office and 2 days of optional work from home.
Marhamat continues, “Before the pandemic, our pocket of SoMa was bustling and thriving. With more businesses rallying to return to work, including our own SF office, we are excited for the opportunity – and the increased foot traffic – which will come to our contest winner, as well as our hundreds of Raydiant customers who have been jostling to adapt and innovate for two years.”
Bay Area-based Raydiant employees have been back in the office since the summer and enjoy the camaraderie, quick decision-making and collaboration that come with working in person, safely. According to Marhamat, “We closed our B-series in February and I have big ambitions ahead of me. We simply cannot afford to miss out on the tremendous benefits that come with face-to-face interactions and relationships. We support the safe return of Bay Area tech companies to the office, and look forward to the positive impact this will have on our downtown retail vendors. »
Raydiant invites applications from entrepreneurs of all sizes in restaurants and retail spaces, with the main qualifier being that the candidate has been in business for at least six months. Raydiant will not be able to support the construction of a full commercial kitchen, but can support small kitchen appliances and the infrastructure to sell finished goods on site.
Raydiant is the AI-powered, on-premises experience management platform of choice for the world’s leading brands in restaurants, retail, banking and more. With Raydiant, franchise managers, IT, marketing and communications managers can scale their physical operations more efficiently, reduce the anxiety of monitoring outdated technology, and seamlessly create better in-store experiences. engaging and personalized that keep customers coming back and buying more. . Raydiant works with nearly 4,500 brands, from SME to enterprise, including First Bank, Dickey’s BBQ, Harvard UniversitySalvation Army, Red Bull, Chick-Fil-A, Thomson Reuters and Wahlburgers. Founded in April 2017Raydiant is headquartered in San Francisco, California and raised a total of $50 million from 8VC, Atomic Ventures, Lerer Hippeau, Mark Wahlberg Investments, Bloomberg Beta, Gaingels, Illuminate Ventures, Transmedia Capital and Ron Conway. To learn more, visit www.raydiant.com.
Morgan ChaneyVP Marketing at Raydiant