Olo (online ordering)

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Olo
Private
Industry Internet, Mobile, Restaurants
Founded New York, NY
(June 2005)
Headquarters New York, NY
Key people
Noah Glass, Founder & Chief Executive Officer
Website www.olo.com
olo online ordering

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

Olo was founded as GoMobo in 2005 by entrepreneur Noah Glass[1] and 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;[2] according to a 2015 report in Fortune Magazine, the company had served approximately 10 million customers.[3] The company reports reaching 40 million users in 2017.[4]

As of 2017, Olo reports having served 40 million users.[5] According to an October 2013 Forbes.com article, clients of Olo have reported having average ticket sizes increase by 25 percent.[6] Some clients have experienced up to a 73 percent increase in ticket size.[7]

Wingstop user interface, made by Olo

Olo works with restaurants to create mobile applications for the Android, Blackberry, and iPhone,[8] as well as mobile-optimized ordering websites. Their online food ordering products are white labeled and integrate with restaurant point of sale systems.

Olo was the first United States online ordering company to release text message ordering capabilities.[9] 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.[10]

References[edit]

  1. ^ David Muir (20 September 2006). "Texting Food Orders Makes Cutting In Line OK". ABC News. 
  2. ^ Alexander Wolfe (1 November 2007). "GoMobo Brings Fandango-Like Advance Ordering To Your Morning Coffee Run". Information Week. 
  3. ^ "Exclusive: Tech firm Olo claims 10 million users". Fortune. Retrieved 2015-11-12. 
  4. ^ "Crunchbase.com: Olo". 6 March 2017. 
  5. ^ "Crunchbase.com: Olo". 6 March 2017. 
  6. ^ "OLO On Mobile Restaurant Ordering: 'We Want To Be The Amazon Of Food'". Forbes. Retrieved 2015-11-12. 
  7. ^ "Why digital ordering is a 'must have' for QSRs". www.qsrweb.com. Retrieved 2015-11-12. 
  8. ^ Robin Hilmantel (March 2009). "GoMobo Brings an EZ Pass Lane to Quick-Serves". QSR Magazine. 
  9. ^ "America's Best Young Entrepreneurs". BusinessWeek. 30 October 2006. 
  10. ^ "Crunchbase.com: Olo". 21 July 2016.