As a result of a successful IPO, OloInc (OLO) has been valued at over $ 4.3 billion. More than 1.0 million Olo Inc. (OLO) shares were traded on Thursday at a $28.82 closing price. On 03/25/21, the shares’ price declined by nearly -3.77%, while the weekly performance was -4.25%. At present, an estimated 143.44M shares are owned by the general public, and among them, 16.69M shares have been available to trade.
Olo covers a wide range of American foodservice establishments through its online ordering platform and delivery service. Over 1.8 million orders are delivered to Olo every day by over 400 brands and 64,000 restaurants.
In 2020, Olo’s growth stemmed from the COVID-19 crisis, and the OLO stock placed its IPO at the right time. Since 2005 Olo has been a text messaging food order service and now has an online ordering system that integrates many delivery services, including Uber Eats.
OloInc (OLO) revenue is growing rapidly, and the platform is being monetized in three ways. Among Olo’s most widespread services is online food ordering. The OloInc lets you pick the most suitable means of delivery for specific customers. A third way of monetizing restaurants is for them to maximize their partnerships with food-ordering and delivery services. Olo charges only for accepted orders for the two last regions, which makes it attractive to the customers. It is somewhat similar to Square Inc. but is targeted to restaurants rather than small businesses.
In the United States, a 24 % decline in consumer spending on restaurants was recorded between 2019 and 2020. Despite this, OloInc (OLO) revenue increased 94% on-year-over-year in 2020 to $98 million. Olo achieved a gross margin of 81 %, making it profitable. Although by 2019, only 44 % of users used all three Olo solutions, the number was up by 71% in 2020.
