IPOs

Restaurant SaaS platform Olo files for a $100 million IPO

Olo, which provides a SaaS platform to restaurants for online ordering and delivery, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

Olo provides restaurants with a business-to-business-to-consumer, enterprise-grade, open SaaS platform to manage their digital businesses. The company roughly doubled the gross merchandise value processed through its platform in each of the last five years, and reached nearly $14.6 billion in GMV in 2020. Olo's customers include restaurant brands such as Chili’s, Wingstop, Shake Shack, Five Guys, and sweetgreen.

The New York, NY-based company was founded in 2005 and booked $98 million in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol OLO. Olo filed confidentially on February 12, 2020. Goldman Sachs, J.P. Morgan, and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Restaurant SaaS platform Olo files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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