Insight certainty 4/5 debate potential 2/5

Glass: Enduring difficult point-of-sale integrations built Olo's competitive moat

Noah Glass · 20VC: Scaling to $122M ARR IPO with $6M in Net Burn, Olo. The Ultimate Journey of Capital Efficiency, What Worked, What Did Not Work and How Leaders Need To Reshape Thinking Around Resource and Attention Allocation · Apr 29, 2022 · at 6:33

Noah Glass is the founder and CEO of restaurant SaaS company Olo. He explains how enduring difficult legacy point-of-sale integrations gave Olo a long-term competitive moat.

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“If we can endure, if we can outlast our competitors, if we can integrate into systems in the restaurant that Point of sale systems that weren't meant to be integrated into, if we can get through that suck, we'll be in a place that nobody else will be able to stay with us.”

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More from Noah Glass

Insight
Glass: Excess venture capital dilutes startup focus and performance
“And the curse part of raising too much money is you have to spend the money. You have to go and do things. And oftentimes that can breed a huge lack of focus. And that can mean that you're trying to do too many things at once. You're stretched too thin. And no…”
Noah Glass Apr 29, 2022 ▶ 27:57 20VC: Scaling to $122M ARR IPO with $6M in Net Burn, Olo. The Ultimate Journey of Capital Efficiency, What Worked, What Did Not Work and How Leaders Need To Reshape Thinking Around Resource and Attention Allocation
Prediction Not checkable as stated
Noah Glass: Olo has a 100x growth opportunity ahead
“I think that Olo itself has a hundred X growth And then some opportunity ahead of us, more restaurant locations, more orders per location as we get to digital entirety, and then more revenue per order from Olopay and other products that we can sell into our cu…”
Noah Glass Apr 29, 2022 ▶ 33:33 20VC: Scaling to $122M ARR IPO with $6M in Net Burn, Olo. The Ultimate Journey of Capital Efficiency, What Worked, What Did Not Work and How Leaders Need To Reshape Thinking Around Resource and Attention Allocation
Insight
Noah Glass: Put team first, investors last to best serve all stakeholders
“Having your stakeholders in that order ultimately is the way to best serve all of your stakeholders”
Noah Glass Apr 29, 2022 ▶ 29:52 20VC: Scaling to $122M ARR IPO with $6M in Net Burn, Olo. The Ultimate Journey of Capital Efficiency, What Worked, What Did Not Work and How Leaders Need To Reshape Thinking Around Resource and Attention Allocation
Assertion Supported
Olo closed its Series A on the day Bear Stearns collapsed
“I mean, one of the things that was really an incredible moment in the company's history was we raised in March of 2008. That was our series a round. I believe on the exact same day, March 17th of 2008, when Bear Stearns collapsed, it felt like it was the last …”
Noah Glass Apr 29, 2022 ▶ 8:02 20VC: Scaling to $122M ARR IPO with $6M in Net Burn, Olo. The Ultimate Journey of Capital Efficiency, What Worked, What Did Not Work and How Leaders Need To Reshape Thinking Around Resource and Attention Allocation
Disclosure
Noah Glass raised a $7M Series A at a $7M valuation
“It was seven on seven. It was a very dilutive round, but we were incredibly grateful that we did that round, that we got the seven million dollars on the balance sheet of the company, and that really became this crucible moment of, can we last to the next stag…”
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Assertion Supported
Glass: Olo's primary core value prioritizes family over work
“We actually, as a company, have always had our first value be family first, and what family first has meant is, if you ever have a conflict, if you ever have a tie between your family and Olo, your family will Wins the tie every single time.”
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