Technology

Olo launches IPO

March 8, 2021

Digital ordering and delivery program platform provider, Olo Inc., launched the initial public offering of its Class A common stock. Olo is offering 18 million shares of its Class A common stock with an offering price expected between $16 and $18 per share, according to a news release. The shares will trade on the New York Stock Exchange under the symbol "OLO."

Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers for the proposed offering. RBC Capital Markets is acting as book-running manager for the proposed offering, and Piper Sandler & Co., Raine Securities LLC, Stifel, Nicolaus & Company, Incorporated, Truist Securities, Inc., and William Blair & Company, L.L.C. are acting as co-managers for the proposed offering.

The offering will be made only by means of a prospectus. A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective.

Olo powers digital ordering and delivery programs that connect restaurant brands to the on-demand world, placing orders directly into the restaurant through all order origination points — from a brand's own website or app, third party marketplaces, social media platforms, smart speakers and home assistants. Olo serves as the on-demand ordering and delivery platform for over 400 brands, such as Checkers & Rally's and Dairy Queen.