Olo and the Rise of Digital Entirety in the Restaurant Industry

Over time, our partnership has helped to increase our top-line sales, maximize profitability, establish and maintain direct consumer relationships, and collect, protect, and leverage our valuable consumer data. We knew that we needed a restaurant-specific platform to process digital payments and combat fraud. With in-store and digital transactions aggregated in the Olo Dashboard, you can spend less time hopping between processors to issue refunds and void transactions, and Fintech stocks more time focusing on your guests. “We are so humbled to be here and so thrilled about what lies ahead,” Glass said. “We are big believers that there’s going to be this massive return to restaurants and on-premise and that off-premise is going to continue to be a fast-growing component of the industry.” A reason it tapped Olo then was to relocate some of the team’s time to guest-facing activities.

Streamline Operations

Over the years, Glass says, quick-serves have grown through franchising, leading to disparate technology systems across franchisee operator groups. It’s manifested in the kind of nonhomogeneous environments for which Glass built Olo. Investors outside the restaurant industry might not know much about Olo, but rest assured they will learn a lot by the end of Olo’s IPO day.

• It’s integral to over 400 different restaurant chains and how they get customers their food.
• Olo, which provides online and delivery ordering solutions for top restaurant chains such as Wingstop and Shake Shack, plans to raise $450 million by offering 18 million shares at $25 a share.
• Scott Kessler of Third Bridge said companies like Olo are enablers in the fast-moving digital ordering space, so it makes sense to go public right now.
• Learn how a fully-integrated, restaurant-centric payment platform can help you drive sales, improve operations, reduce fraud, and simplify day-to-day payment processes.
• The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security.

“It’s more of how do we augment the experience by enabling the opportunity for those that are in a hurry to be able to place their order before somebody comes over to ask for their order,” Glass says. Essentially, customers use Olo without having any idea they are doing so. Palmer, whose Aureole has earned 13 Michelin stars, told him he was mistaken.

The Catering Boom: 7 Reasons Your Restaurant Can’t Afford to Miss Out

The subscription element of Olo’s transactional SaaS model includes both a fixed fee component, as well as a usage-based component that increases as transaction volumes grow. It also charges per-transaction fees for certain ordering and delivery enablement products. An interesting distinction over the years is Olo didn’t divulge into becoming a consumer brand alongside that growth. Olo currently serves more than 400 restaurant brands across the aforementioned 69,000 individual locations. Quite a leap from when Glass founded the company after asking himself why he couldn’t get a cup of coffee faster by ordering ahead and skipping the line. Olo, a cloud-based, on-demand commerce platform forexee founded in 2005, went public in mid-March after raising roughly $450 million at a valuation of $3.6 billion.

of the top 100 US restaurant brands trust Olo to be the backbone of their digital operations

With virtual brands, Glass says the channel is democratizing access to launching restaurants. MrBeast, for instance, launched simultaneously in 200 kitchens across the country overnight. That could have taken decades to achieve that kind of physical availability before. This is also what happened in Q1 with Bloomin’, which re-platformed its long-standing homegrown digital ordering program to Olo. Olo looked at how it could enable an experience, such as the ability to place an order that is held in the cloud until someone is seated. It’s a use-case the company witnessed in family dining, Glass says, where they have big rush periods on Saturday and Sunday morning brunch.

Clients include Wingstop, Applebee’s, Chili’s, Denny’s, Five Guys Burgers & Fries, Jamba, Noodles & Company, Shake Shack, Sweetgreen, Red Robin, Dairy Queen, and Cracker Barrel. Olo solved several pain points, including multiple third-party tablets and order management issues, while also streamlining operations, allowing us to own our guest relationships, and helping us become a bigger food destination. Thoughtfully greet and serve dine-in and takeout guests with our all-in-one waitlist, reservation, order, and table management tool.

In DoorDash’s first earnings call on Thursday, the leading third-party delivery operator posted a net loss of $312 million in the fourth quarter of 2020, compared to a loss of $134 million in the same period last year. Getting Olo customers to use all three modules will be a key growth strategy. As of December 31, 2019, 44% of Olo’s customers used all three of its modules. Two years before the iPhone was released, Noah Glass saw the potential for diners to use the phone to streamline dinner orders and for restaurants to take control of their digital destiny. Fast forward more than a decade, Glass is ready to invite Wall Street to invest in that same dream. Enable guests to scan a QR code to access your menu, place an order, and pay for a meal, all from their own mobile device.

Expand your reach with direct and marketplace delivery via our integrated network covering 99.9% of the U.S. With 10x average order values compared to traditional mealtime ordering, catering is a major driver of profitable traffic. Olo’s Catering+ helps brands capitalize with a fully integrated, enterprise-grade catering solution. We knew we needed a restaurant-specific platform to process digital payments and combat fraud all in one place. Olo Pay is fully integrated with our tech stack, easy to set up, and we finally have a strong relationship with our payment provider.

It was true before a global crisis review market wizards series shut the dine-in doors across America. Olo, Inc. engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. The company was founded in 2005 and is headquartered in New York, NY.