McDonald's considers selling part of digital startup Dynamic Yield
McDonald's Corp is exploring selling part of Israeli artificial intelligence startup Dynamic Yield Ltd, which it acquired two years ago in an attempt to boost online marketing efforts, the company said on Friday.
Dynamic Yield, run as a standalone company within McDonald's, personalises customers' experience by changing offerings on the chain's Drive Thru menu displays, according to time of day, weather, customer traffic and trending choices.
The startup, whose customers include IKEA and Lacoste, has businesses with more than 300 brands globally.
"The potential sale of the non-McDonald's part of our business has been discussed from the outset and now feels like the right time to explore that possibility," its chief executive, Liad Agmon, said in a statement.
The Chicago-based hamburger chain said it was considering a sale of only the part of Dynamic Yield that works with other companies with no timeline set for the deal.
McDonald's said Dynamic Yield's technology was used across many markets, adding, "We're continuing to deploy to more."
