OLO - Is New IPO Olo a Stock for the Long Haul?
Olo (NYSE: OLO) is a software-as-service ( SaaS ) business powering the digital offerings of many popular restaurant chains. The stock made its debut on March 17 after its initial public offering (IPO) raised $450 million in a deal that saw strong demand from the market. Here's what investors should know about this high-growth company and why SaaS investors should put it on their watchlist.
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Olo is a software platform that serves multilocation restaurant chains. It provides tools for ordering, dispatch (i.e. delivery), and rails (optimizing ordering, menu items, and pricing into the restaurant's point of sale (POS) system). Customers can subscribe to one, two, or all three of these modules when using Olo's products. The company serves many high-growth restaurant brands, including Five Guys, Shake Shack , and Wingstop . According to its IPO prospectus, Olo typically sells its software at the corporate level so the implementation process can be streamlined all in one go.
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Is New IPO Olo a Stock for the Long Haul?