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 …

Delivery Co-op application supports delivery drivers and local restaurants

The food delivery app gives drivers guaranteed pay and benefits and supports local restaurants. While dashing for door dash, Holly Yessan noticed she wasn’t making a lot of money because orders aren’t guaranteed. She then decided to downloaded Delivery Co-op. Unlike third party delivery services like doordash and uber, drivers can deliver full time with …

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 CEO On The Path To IPO And Building A Restaurant Network

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 …

A Whopping 91% Of US Restaurants Will Invest In Kitchen Automation, Says Survey

The virus pandemic did not change the trajectory of where the restaurant industry was headed, but it did force years of change in a short period. Restaurants are embracing artificial intelligence and automation to revolutionize their business models.  A new report via payments company Square titled “Future of Restaurants” discusses an overview of how technology is …

TECH ROUNDUP: DOORDASH LAUNCHES RESTAURANT ACCELERATOR, TOAST EYES IPO

This week in restaurant tech: DoorDash and Yelp look to better equip restaurants and Toast could be the next tech company to go public. DoorDash launches program for minority-owned restaurants. The Main Street Strong Accelerator is intended to help businesses owned by women, immigrants and people of color that have been disproportionally hurt by the pandemic. …

Olo files to go public with $100M offering

Dive Brief: Software company Olo filed for an initial public offering on Friday with plans to raise $100 million, according to an S-1 filing. As of Q4 2020, Olo processes 1.8 million orders per day and works with 64,000 restaurantlocations and 400 brands, according to the filing. During the past year, the company posted a 94% …