Olo (online ordering)

Olo is a mobile and online food ordering platform that allows customers to order food from online menus and prepay from their mobile or desktop device. The company is based in New York City.

Olo
Private
IndustryInternet, Mobile, Restaurants
FoundedNew York, NY
(June 2005)
HeadquartersNew York, NY
Key people
Noah Glass, Founder & Chief Executive Officer
Websitewww.olo.com

Olo was founded as GoMobo in 2005 by entrepreneur Noah Glass,[1] working with coffee shops and restaurants in New Haven and New York.[2] The company was renamed Olo in 2010 (an acronym for "online ordering"). Their registered trademark slogan is "Skip the Line ®". Olo works with chain restaurants across the United States;[3] according to a 2015 report in Fortune Magazine, the company had served approximately 10 million customers.[4] The company reports reaching 40 million users in 2017.[5]

As of 2017, Olo reports having served 40 million users.[6] According to an October 2013 Forbes.com article, clients of Olo have reported having average ticket sizes increase by 25 percent.[7] Some clients have experienced up to a 73 percent increase in ticket size.[8]

Olo works with restaurants to create mobile applications for Android, Blackberry, and iPhone,[9] as well as mobile-optimized ordering websites. Their online food ordering products are white labeled and integrate with restaurant point of sale systems. When it launched in 2005, Olo (then GoMobo) was the first United States company to offer text message ordering capabilities;[10] it launched its iPhone-based app in 2009.[11] The company has raised USD $63.25 million in total funding from Founder Collective, RRE Ventures, Core Capital, PayPal, Staley Capital, the Raine Group, and Danny Meyer, CEO of Union Square Hospitality Group, and members of Olo's board.[12][13]

References
  1. David Muir (20 September 2006). "Texting Food Orders Makes Cutting In Line OK". ABC News.
  2. Ali, Sarmad (20 September 2006). "Text Messaging Speeds Up Fast-Food Orders; Cellphones, Web Services Let Customers Skip Lines; Idea Is Still in Early Stages". Dow Jones & Company Inc. Wall Street Journal. pp. D4. Mobo Systems Inc., which has deals with 24 restaurants in New Haven, Conn., and New York
  3. Alexander Wolfe (1 November 2007). "GoMobo Brings Fandango-Like Advance Ordering To Your Morning Coffee Run". Information Week.
  4. "Exclusive: Tech firm Olo claims 10 million users". Fortune. Retrieved 2015-11-12.
  5. "Crunchbase.com: Olo". 6 March 2017.
  6. "Crunchbase.com: Olo". 6 March 2017.
  7. "OLO On Mobile Restaurant Ordering: 'We Want To Be The Amazon Of Food'". Forbes. Retrieved 2015-11-12.
  8. "Why digital ordering is a 'must have' for QSRs". www.qsrweb.com. Retrieved 2015-11-12.
  9. Robin Hilmantel (March 2009). "GoMobo Brings an EZ Pass Lane to Quick-Serves". QSR Magazine.
  10. "America's Best Young Entrepreneurs". BusinessWeek. 30 October 2006.
  11. Glass, Noah (July 31, 2009). "Line Cutter". NYMag.com. New York Media LLC. Retrieved 5 June 2019.
  12. "Crunchbase.com: Olo". 21 July 2016.
  13. Jennings, Lisa (January 24, 2017). "The Power List 2017: Noah Glass". Nation's Restaurant News. Informa, plc. Retrieved 20 June 2019.
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