OLO - Better Buy: Olo vs. DoorDash
The food delivery industry is growing rapidly. Accelerated by the pandemic, U.S. food delivery revenue hit $26.5 billion in 2020, up 204% over the last five years, and that figure is projected to grow to $42 billion by 2025. The market leader is DoorDash (NYSE: DASH) . Its delivery network generated $8.2 billion in gross order volume (GOV -- the total amount of dollars flowing through a platform) last quarter alone.
DoorDash went public in December, raising $3.4 billion in one of the largest initial public offerings of 2020. Olo (NYSE: OLO) , a software-as-a-service (SaaS) platform that enables restaurant chains to operate efficiently with all these new on-demand and delivery solutions, just went public a few weeks ago, and it is another fast-growing company within the space.
But which is the better buy: DoorDash, the leader in food delivery, or Olo, which provides the software that enables restaurants to operate in the digital age?
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Better Buy: Olo vs. DoorDash