The acquisition is expected to be immediately accretive to XRAY’s non-GAAP EPS and bring an NPV tax benefit of approximately $160 million. Centerview Partners LLC served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP provided legal counsel to Dentsply Sirona.
Scale your business Byte Sales
In a world where on-demand delivery services like UberEats and DoorDash have removed retailers from their consumers, byte sales is working to bring back the connection. They want to “own the consumer,” and they do it by providing data to inform their product development, restocking and more.
The byte technology platform also allows retailers to connect with their consumers on a deeper level, helping them deliver customized products that match the consumer’s lifestyle and provide more than just a transaction. They can also offer a variety of ways for consumers to interact with their brands, from video chats, to photo and text reviews, and even in-person visits.
Millennials’ short attention spans and lack of patience with long, non-technical learning make them an ideal audience for just-in-time sales training delivered through on-demand video bytes. This new approach to learning helps to reduce the time spent in front of customers and improves customer retention.
Byte has a strong average rating of 4.9 stars from 17 reviews, likely due to its user-friendly interface and robust features that allow for customization and effective customer engagement. Its seamless integration with Klaviyo for trackable marketing may also contribute to this high satisfaction.
In addition, byte sales has partnered with Dentsply Sirona to develop a new product, bytePro (launch TBD), which will help match consumers with their local dentists and orthodontists to ensure proper care after aligner use. It will also help those who have already purchased byte to keep their smiles looking great by connecting them with dental professionals who can assist with maintenance, cleaning and other needs.
Byte is not venture-backed, but it does have a small investment from actress and investor Kerry Washington, who serves as its Creative Advisor. Byte is currently seeking an institutional investor to lead its next round of funding.
Get Set Up in Minutes Byte Sales
Byte especializa en el desarrollo y comercialización de aplicaciones de software de alta calidad, ofreciendo soluciones poderosas para las diversas industrias de telecomunicaciones, servicios financieros y medios de pago. Currently, Byte provides solutions to important organizations distributed in more than 15 countries and owns offices in Guatemala, El Salvador, Honduras, Colombia, Peru and Dominican Republic.
Byte offers customers a convenient alternative to traditional orthodontics, with a process that includes taking dental impressions at home and shipping them to company labs for processing. The company’s teledentist network then connects them with one of more than 200 dentists in the byte network, who review the impressions and recommend a treatment plan.
With a goal of providing clear byte sales to more than 1 million patients by 2022, Byte has established a unique direct-to-consumer model for the industry. The company’s innovative products are used to straighten teeth without the need for invasive in-office procedures or braces, and the byte app offers flexible payment options including a zero-interest savings program.
Byte’s team recognized the need to help customers save for their new smile on their terms, and worked with Accrue to launch a joint program that allows byte sales consultants to present this option to customers during their consultation. Within the first two months of introducing Accrue to Byte’s customer group, 92 new customers created a Byte x Accrue Savings wallet, with 11 having reached their savings goals and made their purchase. This is expected to drive incremental revenue for the byte business. Streamline your sales process with easy-to-use tools that allow for quick lead conversion and fast deal closures. Gain access to real-time insights, personalized recommendations and industry benchmarking.
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Byte is user-focused, and they pride themselves on limiting some of the advertising features brands love. For example, there are no pre-roll ads or following feed ads on Byte. Instead, they centralize their advertising through the Partner Program.
Byte has a very clear value proposition and is laser-focused on their business model. Unlike many start-ups that try to be jacks of all trades and create mediocre products and services, Byte only works with qualified customers who are a good fit for their system.
Dentsply Sirona is committed to leveraging the byte sales team and technology to scale their direct-to-consumer model for teeth alignment, both in the U.S. and internationally. The acquisition is expected to be accretive to Non-GAAP EPS in 2021 and beyond. It’s a big win for both parties!
Enjoy a guaranteed increase in deals closed over 90 days Byte Sales
In addition to offering a unique business model, Byte’s kiosks also provide data-driven visibility, optimizing performance and maximizing profitability. By reducing the need to manually monitor inventory, sales and out-of-stock rates, byte sales technology gives dental clinics the ability to operate more efficiently and effectively—adding to both the patient experience and bottom line.
Byte is a direct-to-consumer orthodontics company with a mission to help people achieve their dream smile at a fraction of the cost of traditional options. The company offers a subscription-based service that allows patients to pay for their clear aligners over time, rather than in a single lump sum. Its at-home aligner treatment process consists of a series of home dental impression kits, which are sent to the company’s labs for fabrication. Customers then consult online with a licensed dentist or orthodontist in the company’s teledentist network.
Like TikTok, Byte features a scrollable content feed and the ability to create and upload videos. Its videos are limited to six seconds, and the app can record them on-demand or use a device’s existing camera. The app also includes a profile page and community forum, enabling users to communicate with their followers.
Dentsply Sirona’s acquisition of byte sales marks a significant milestone in the company’s efforts to make quality orthodontic care more accessible to consumers around the world. The deal provides the company with scale and access to a broader supply chain in order to deliver even more innovative, doctor-directed, clear aligner solutions to patients globally. The company will remain based in Santa Monica and its current management team, led by CEO Neeraj Gunsagar, will continue to lead the company moving forward. Centerview Partners LLC served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP provided legal counsel to Dentsply Sirona.
Leverage the Power of Your setter Team Byte Sales
Byte offers a subscription service that allows customers to receive teeth aligners at home via mail, with online consults with its network of teledentists. Byte is a leader in the direct-to-consumer clear aligner market, which has grown to be a multibillion-dollar industry.
The company prides itself on being byte sales user-focused and does not allow retargeting or other advertising features like TikTok’s whizz-bang effects. Byte believes these detract from the company’s ability to tell its story.
Wrapping It Up
Byte’s byte sales team uses Accrue to capture aged leads, engaging with customers who have been planning to purchase an aligner package but have not done so in 30 days or more. The program helps Byte drive engagement with its customer base and maximize the value of its in-house credit. The program also helps Byte keep churn below 10% and achieve its 30% conversion target within the first 90 days. Enjoy quick dialer setup, rapid setter recruitment and continuous improvement through coaching, training and support.
