Another day, another unicorn debut – this time it’s NYC-based Olo, which provides order processing software to restaurants. Olo is hoping to sell 18 million shares for an IPO price range of $16-18, which means it can raise over $300m in its initial listing.
The company has a track record of profitability — its revenues were up 94% in 2020 (lucky them!). Olo is racing against rival Toast to go public, a fellow American unicorn that operates in a similar sphere and also has an IPO coming up. Who’ll make it there first?!
P.S – If you’re not familiar with the term, a unicorn company is a privately-held startup that is valued at over $1b. You’re welcome!