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Olo is the next FinTech unicorn to IPOINTL

Olo is the next FinTech unicorn to IPO

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!

why it matters
It’s a good time to go public as a tech startup because the ramp in IPO valuations allowed other tech companies in the F&B space, like DoorDash (DASH), to successfully debut on the stock markets recently.