DOORDASH SAYS DELIVERY FEE CAPS ARE HURTING ORDER VOLUMES

DoorDash said Wednesday that limits on the fees it charges restaurants are hurting order volumes because it has forced the company to raise prices for consumers. In a blog post, the delivery provider reported that order volumes in March fell 7% in Philadelphia, 4% in St. Louis and 4% in Westchester County, N.Y., as a result of …

“An Absolute Car Crash” – Deliveroo Shares Tumble 31% In London IPO

In what some might take to be the latest sign of exhaustion in global equity markets, shares of Deliveroo tumbled 31% in their market debut Wednesday after pricing at the lower end of their range. Despite pricing near the bottom of its range, Deliveroo’s opening valuation of about £7.6 billion ($10.5 billion) was the highest in …

Softbank-Backed Startup GoPuff Raises $1.1 Billion To Compete In Delivery Wars

Softbank-backed digital convenience store GoPuff has raised $1.15 billion in capital as it races to compete in the red-hot delivery wars against larger rivals like DoorDash, Postmates and Instacart. The latest round, announced on Tuesday, more than doubles its valuation to $8.9 billion, up from $3.9 billion just last October. It brings the eight-year-old company’s total …

Can Olo Eat the Restaurant Market?

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 …

COVID PULLED OLO INTO THE FUTURE, AND IT WANTS TO BRING RESTAURANTS ALONG

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 …

What Olo’s $450M IPO means for the restaurant industry

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 …

Olo tops $450M IPO

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 …

Restaurant tech firm Olo shares soar 39% in IPO as online ordering surges

Olo shares soared as much as 39% in afternoon trading during its public market debut. The company makes software for restaurant online ordering, and its clients include Shake Shack and Chili’s. CEO Noah Glass said that going public will help raise the profile of the company, which could help its future growth. Olo, which makes …

Billion dollar dreams: Olo’s IPO could be valued at $3B

Restaurant software company, Olo, plans to raise as much as $306 million in an IPO. The New York-based business is pitching the offering to investors as the company announced that it made 18 million shares of Class A common stock priced between $16 and $18 per share. Restaurant software company, Olo, plans to raise as …

Waitr buys Florida-based Delivery Dudes for $23M

Dive Brief: Waitr has acquired Delivery Dudes, a Florida-based food delivery company, for approximately $23 million in stock and cash, according to a press release. Delivery Dudes operates in small- and medium-sized markets in over 50 cities, mainly located in South Florida. The transaction is expected to close by the end of this week. Delivery Dudes’ ordering …