Olo agrees to settle shareholder lawsuit for $9M

Olo agrees to settle shareholder lawsuit for $9M

Olo currently works with 400 brands across 64,000 restaurant locations, playing an integral part of a chain’s digital ordering channels. 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. The company plans to raise $450 million by offering 18 million shares at $25 a share under the NYSE ticker “Olo.” That’s up from a previous range of $16 to $18 a share set earlier this month. To catch full episodes of all The Motley Fool’s free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks.

  1. If approved by a judge, the class-action settlement agreement filed earlier this month would bring a payout for investors who acquired Class A common Olo stock between March 17, 2021 and Aug. 11, 2022.
  2. Unlike third-party delivery providers, Olo’s prime mission is to drive digital orders through a restaurant’s own branded channels.
  3. “Restaurant brands rely on Olo to increase their digital and in-store sales, maximize profitability, establish and maintain direct consumer relationships, and collect, protect, and leverage valuable consumer data,” Olo wrote in its S-1 filing.
  4. Olo’s platform marries restaurants with a vast and complex vendor market.

Think of Olo as having the universal key that unlocks dozens of doors, or tech solutions, used by restaurants. 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. The leading online ordering and delivery solution for top restaurant chains like Wingstop makes its stock market launch today. Grow and protect your digital business with our payment platform, proven to drive sales, reduce fraud, and simplify payment processes. Offer a unique, direct ordering experience that gives guests the ability to order now or later from any platform, including Google, using their preferred handoff method. Guests get the freedom of choice, while you maintain full data ownership to power business decisions and growth.

Its Ordering module provides chains a white label direct-to-consumer ordering channel. So when a customer orders pickup from Wingstop’s app or website, Olo is powering that service. A new food tech disruptor is making its Wall Street debut Wednesday. But unlike other recent splashy IPOs like DoorDash, digital ordering platform Olo is flying under the radar.

For every 100 parties seated, Host users save 30 minutes of manual work on average. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… That’s right — they think these 10 stocks are even better buys. As of December 31, 2019, 44% of Olo’s customers used all three of its modules. Olo’s platform processes an average of about 1.8 million orders a day.

Control your menu, item availability, pricing, and store hours from a single dashboard with brand- and location-level settings. Encourage guests to order more, and more frequently, with upsells, featured items, and LTOs. Olo Inc. disclosed Monday that the expected pricing of its initial public offering has increased to a range of between $20 and $22 a share from between $16 and $18 a share.

New York-based Olo provides online ordering, payments and other services for large restaurant chains. Since going public in March 2021, it has consistently reported double-digit revenue growth, but its stock has yet to recover from the blow of losing Subway. In November, the company announced the departure of another big client, the 1,800-unit Wingstop chain, which is switching to an in-house tech system this year. Olo in New York provides an on-demand interface for palladium trade the restaurant industry, designed to drive digital ordering and delivery for restaurant brands. Easily manage payments at scale using the same platform as your digital ecosystem.Olo Pay works on your behalf to drive direct digital sales, prevent fraud, and streamline day-to-day payment processes. 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.


Unlike third-party delivery providers, Olo’s prime mission is to drive digital orders through a restaurant’s own branded channels. Grow digital orders with confidence, knowing your payment solution can keep up. Built to scale with your brand, Olo Pay offers support for high-volume transactions and flexible payment schedules. Sign up to receive texts from Restaurant Business on news and insights that matter to your brand. Power business decisions, campaigns, and growth with our Guest Data Platform, purpose-built for restaurants.

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. The company’s strategy is to work with large, well-capitalized national chains – the “fastest-growing restaurant brands in the industry,” according to Olo’s S-1 filing. Increase direct sales with our secure, fast, and reliable ordering platform, built to integrate with your systems and meet guests where they are. On average, brands see a 108% higher conversion rate with our ordering app. Discover how to maximize your restaurant revenue across channels, unlock actionable guest data, and grow your business with this comprehensive direct ordering ebook.

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. Keep operations running smoothly by tracking online orders from anywhere in your restaurant—back-of-house with Dashboard or front-of-house with Expo. Monitor performance, process refunds, check order statuses, and more. 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. Thoughtfully greet and serve dine-in and takeout guests with our all-in-one waitlist, reservation, order, and table management tool.

Building a branded online ordering experience shouldn’t be hard.Discover why traditional restaurant brands and virtual concepts rely on our powerful ordering platform to maximize profitability, streamline operations, and meet guests where they are. 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. Olo’s platform marries restaurants with a vast and complex vendor market. In totality, Olo’s platform integrates with more than 100 restaurant technology solutions such as POS systems, delivery aggregators, payment processors, and loyalty programs.

Buzzworthy Brands

Shares of Olo Inc. plummeted 32.3% toward a record low in premarket trading Friday, after the restaurant-ordering technology company’s disappointing second-quarter results and outlook prompted Stifel Nicolaus analyst Brad… Olo projects its “addressable market opportunity is $7 billion” as the pandemic fueled the acceleration of new kinds of contactless digital ordering for both dine-in and takeout customers, the company stated https://bigbostrade.com/ in its IPO paperwork. Learn why (and how) leading brands are focusing on building a restaurant tech stack that digitizes every transaction, captures more data, and grows guest lifetime value. Enable direct delivery at scale with all the right controls to streamline operations and enhance the guest experience. Expand your reach with direct and marketplace delivery via our integrated network covering 99.9% of the U.S.

Olo started at buy with $34 stock price target at Truist

Meet the expectations of today’s digital-first guests by offering seamless checkout, digital wallet support, and industry-high authorization rates. That is, until August 2022, when Olo announced that Subway was leaving and downgraded its outlook for the year. The revelation sent Olo’s stock price down by 36%, to $8.26 per share, wiping out more than $480 million of shareholder value. Exchange-traded funds that let investors bet on energy prices and stocks are among the most popular offerings judging by their considerable trading volume, but some of these funds have been slammed by the severe correction…

Customers who use Ordering

Offer Borderless checkout, mobile wallets, and card-on-file support for added convenience. According to the lawsuit, in August 2021, Olo said that there were 74,000 restaurant locations using its technology, including about 15,000 Subway stores, an overall 30% increase from the prior year. The growth helped boost Olo’s stock to an all-time high of more than $45 per share.

This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Maximize profitability, streamline operations, and meet guests where they are with our powerful ordering platform. Online ordering provider Olo has agreed to pay $9 million to settle a class-action lawsuit brought by shareholders who accused the company of failing to properly disclose the end of its relationship with Subway.

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