The long-awaited joy of a bustling dining room has finally returned. Yet as the industry hypothesizes about the long-term impact of digital with the return to in-person dining, billions of dollars continue to change hands in a way that will determine the fate of restaurant brand equity for years to come — and it’s happening outside of …
Continue reading “Five Digitally Disrupted Industries to Study as Restaurants Make the Shift”
Portillo’s Hot Dogs is investing in the company and implementing its turnkey delivery solutions LOS ANGELES, May 13, 2021 /PRNewswire/ — Cartwheel, an on-demand delivery management platform for restaurants and retailers, announced today that it has raised a $1 million seed round led by TenOneTen Ventures with participation from Act One Ventures and Portillo’s Hot Dogs, along with angel investment from additional restaurateurs. The …
Continue reading “Cartwheel Raises $1 Million to Disrupt On-Demand Delivery”
Olo continued its post-IPO victory lap after posting its first quarterly earnings results as a public company. The delivery integration and logistics company for enterprise restaurants had a lot of great highlights from the first quarter of 2021. Revenues were up 125 percent year-over-year to $36.1 million. Gross profit was up 150 percent, suggesting the …
Continue reading “Olo Beats Expectations in First Earnings Report”
Third-party delivery company DoorDash and b2b software company Olo have reached an agreement worth $25 million in credit after DoorDash filed a lawsuit against the company last month, according to an 8-K filed with the Securities and Exchange Commission on Thursday. Both companies have also agreed to settle and dismiss DoorDash’s legal claims. DoorDash’s original lawsuit, filed with the …
Restaurant aggregator and delivery service DoorDash is suing digital ordering solutions provider Olo for allegedly overcharging the company by millions of dollars over several years, the Financial Times reported on Wednesday (March 31). “Olo had been charging DoorDash fees that were greater than it was charging comparable delivery platform providers,” states a memorandum that DoorDash filed with New York’s Supreme Court on Tuesday (March 30). “For …
Continue reading “DoorDash-Olo Lawsuit Draws Attention To Restaurant Delivery Economics”
Olo (NYSE:OLO), whose name is short for online ordering, went public last week, quickly topping a $4 billion valuation. The platform is designed to help restaurants customize and manage their entire digital ordering process. But despite seeing massive adoption due to the pandemic, Olo still appears to be in its infancy. Let’s take a look at why its …
More than 15 years after its founding, online-ordering company Olo ticked off a major milestone on Wednesday when it began trading shares on the public market. It is just the latest in a line of milestones for the company and its founder and CEO, Noah Glass. On Wednesday afternoon, with some prodding from a Restaurant Business reporter, he …
Continue reading “COVID PULLED OLO INTO THE FUTURE, AND IT WANTS TO BRING RESTAURANTS ALONG”
Scott Kessler was first struck by Olo’s potential when his daughter had a craving for Chick-fil-A during the pandemic. He and his wife wanted something else for dinner so they ended up making online orders at Chipotle and Shake Shack as well. When he went to pick up the meals, things didn’t go smoothly. Chipotle …
Continue reading “What Olo’s $450M IPO means for the restaurant industry”
Few companies would look at going public as a time to shake things up. But for restaurant Software-as-a-Service (SaaS) company Olo, that’s exactly what the next order of business looks like. Even after its first day on the New York Stock Exchange (NYSE) wrapped Wednesday (March 17), as the company watched its initial share price go from $25 to a …
Continue reading “Olo CEO On The Path To IPO And Building A Restaurant Network”
Olo Inc., a food-ordering software company, has raised $450 million in an initial public offering of its Class A common stock. The New York-based company, whose board members include Shake Shack Inc. founder Danny Meyer, sold 18 million shares for $25 each, a range it had elevated earlier from $16 to $18, according to a reportin …
