Olo Announces $100 Million Share Repurchase Program

NEW YORK, September 07, 2022–(BUSINESS WIRE)–Olo Inc. (NYSE: OLO), a leading open SaaS platform for restaurants that enables hospitality at every touchpoint, today announced that its board of directors authorized a share repurchase program for up to $100,000,000 of the Company’s Class A common stock. The authorization to repurchase has no expiration date and will be …

Tech Tracker: Kitchen United CEO gives details on massive cross-industry fundraising

Tech Tracker rounds up what’s happening in the technology sector of the restaurant industry, including news from restaurants, vendors, digital platforms, and third-party delivery companies. This month, our main story comes from an interview with Kitchen United CEO Michael Montagano, who gave some insight into the ghost kitchen company’s recent $100 million fundraising round, with …

Cartwheel Expands Partner Network to Power Hyper-Local Delivery Offerings Nationwide

LOS ANGELES —  Cartwheel, the on-demand delivery management platform for restaurants, couriers, and beyond, today announced new and expanded partnerships with Omnicart and Olo that provide local delivery service providers (DSPs) and restaurant delivery services (RDS) with technology and tools to power their businesses. A new partnership with marketplace and operations tech provider Omnicart enables DSP and …

OLO IS LOSING ITS SUBWAY BUSINESS, DRAWING SHAREHOLDER LAWSUITS

The technology company said it has known since the beginning of the year that Subway could leave, taking 15,000 locations and “a few million dollars” in revenue with it.By Joe Guszkowski on Aug. 17, 2022 Subway is leaving Olo in favor of an in-house tech solution. / Photograph: Shutterstock Online ordering company Olo revealed last week that …

Cartwheel Continues Partnership Spree with Omnicart

Cartwheel and Omnicart completed an integration to bring driver management logistics tools into Omnicart’s delivery operating system. Cartwheel announced the integration as part of a string of new connections for the platform that allows for hybrid and self-delivery. As Food On Demand previously covered, the company has recently connected with Square, ChowNow, Nash, RMDA, and deepened …

Cartwheel expands partner network with Omnicart and Olo

It’s a big day for all the local delivery businesses out there: today, we announce our brand-new partnership with Omnicart, a SaaS platform and delivery operating system, and an extended partnership with Olo, bringing hyper-local delivery functionality to more than 600 brands. The partnership with Omnicart enables delivery service providers (DSP) and restaurant delivery services …

Here’s Why Olo Stock Dropped Like a Rock Today

One of the largest restaurant chains in the world is leaving Olo’s platform, spooking investors. What happened Shares of restaurant online ordering platform Olo (OLO -36.41%) dropped like a rock on Friday, after the company lowered its revenue guidance for the remainder of 2022. As of 11:30 a.m. ET, Olo stock was down a whopping 33% and is down …

Flybuy and Olo Announce Strategic Partnership to Power Off-Premises

Radius Networks, a leading enterprise location technology platform, is teaming up with Olo, a leading open SaaS platform for restaurants, to power the restaurant industry’s off-premises initiatives. Currently, Flybuy and Olo have dozens of shared brands with thousands of locations live together, including Applebee’s, IHOP, El Pollo Loco, Five Guys, Hooters, Newk’s, Qdoba, Tropical Smoothie …

BentoBox Debuts Payments Platform Solution for Restaurants

Marketing and commerce platform BentoBox debuted its new payments platform Wednesday (June 8), designed to provide restaurants with an end-to-end solution for taking orders and processing payments. The launch comes as restaurant operators are increasingly needing easy-to-use tech solutions to help manage their businesses, according to the company press release. The platform, BentoBox Payments, aims to simplify …

Olo Announces First Quarter 2022 Financial Results

NEW YORK–(BUSINESS WIRE)–Olo Inc. (NYSE:OLO), a leading open SaaS platform for restaurants that enables digital hospitality at every touchpoint, today announced financial results for the first quarter ended March 31, 2022. “In the first quarter, Olo’s revenue and profitability momentum continued, as we took meaningful strides towards enabling digital hospitality. Our platform supported year-over-year growth …