You don’t have to be a stock market guru to see that it’s a pretty opportunistic time for a company whose name literally stands for “online ordering.”
That’s definitely how the New York-based restaurant tech startup, Olo sees it.
Olo is among multiple companies that are disrupting the restaurant industry right now, during a time when food delivery has seen unprecedented demand thanks to lockdowns and quarantines stemming from the pandemic.
The company works with over 64,000 restaurants across 400 different brands and its software is able to integrate with over 100 different tech platforms. And in 2020, Olo grew its year-over-year revenue by 94%.
What makes Olo so attractive is the software and point-of-sale systems that enable restaurants to offer simple online ordering and delivery. The company calls itself “the interface between restaurants and the on-demand world,” and its suite of services includes software for web, mobile, in-vehicle, kiosk, and voice ordering.
While the specific IPO date is not yet known, the company will go public in 2021, with a price around $16-$18 a share.