Olo

“Three hundred and twenty million of ARR Gap profitable, business that is decent, and it's bought for two billion dollars by Toma Bravo.”

“I think it went for 10 bucks a share. I think the damn thing went public for 25.”

“Olo is trying to do an, basically an enterprise play in an SMB market. That's really brutal, right? It's the same problem in anything in B to B e-commerce. If you're doing, if you're not doing some SMB in e-commerce, like, yeah, there's a few niche players, bu…”

“We're also automating in Olo, as well as DoorDash, Uber Eats, Grubhub, most of the common ones.”

“They took seven years to get to a million in error.”

“The event was the day that Starbucks launched an app. Is that when Starbucks launched an app, and they went all out on this kind of pre-ordering, mobile ordering, everyone else was like, oh my god, this is actually happening, it's happening not just for pizza,…”

“Olo, PayPal offered to buy the business. PayPal came in and made a hundred million dollar offer, and literally, it was like Christmas, and that, that deal fell through. Noah and I were very disappointed. I remember, like, the 29th of December, they offered to …”

“When we had a commercially viable version of Olo in 2005, when we launched it was sub five percent of mobile users that were using smartphones.”

“I don't have any money to pay you. Could we do a sweat equity sort of thing where you're kind of like earning equity and what will ultimately become a company? They'd never done that before, but they were into it. That's how we started working on what became t…”

“If you are so committed to this that you are willing to drop out of Harvard Business School, just withdraw your admission, not a deferred admission, you actually have to say you're not gonna go. Like, you're just withdrawing. And you can quit and tell Linda at…”

“I was saying that they were going to be a customer. I really believe that they were truly in my heart. Back in 2006, it took until 2014 for them to become a customer.”

“Danny Meyer almost concurrently with Shake Shack becoming a customer, became an investor in Olo and joined our board. So he's been a board member for the past 10 years plus as we've been on this journey with Shake Shack.”

“When we were pouring through the data of like, well, where do we have a scenario where the lifetime value is greater than the customer acquisition cost? We couldn't find it except for Dallas, Texas. Why? Because we weren't spending anything on customer acquisi…”

“It was on a seven million dollar pre-money. There was a 20% option pool. Added post money. So new investors got half. Existing shareholders were squeezed down to 30% with 20% options for future hires. Highly dilutive.”

“And we had just gotten to profitability as a company on the basis of being a B to B platform for restaurant groups in the enterprise segment. And I remember at the time I said, we used to spend a 150,000 dollars per month, and we would get 10,000 new guests fr…”

“When we went public in March of 20, 21, we were coming right up on a hundred million dollars in revenue for the year 2020. And I'm very proud of this fact. We were, I believe, a hundred and twenty one million dollars of ARR at that point that we went public. O…”

“Meritech Capital did a chart of ARR and net burn. We were the lowest net burn of our class of IPOs, and we were the highest ratio of ARR to net burn.”

“One of our early competitors in the B to C world sent us a very scary legal letter, a cease and desist letter. And it was accusing us of inducing, what was it? It was tortious interference. We were inducing customers, restaurants to breach their contract with …”

“I want to say it took us until probably 2012 to get two million. So, like, I, if I think about a 150,000 a month being what we were getting paid at the end of 2012, that pencils to, what, 1.8 millions?”

“Like those fast, casual restaurants were ready to do this long before coffee shops or fast food restaurants were ready to do this. So I guess finding product market fit in like a very niche market of early adopters before getting to generalized product market …”

“I remember saying to my wife on Olo, this is done. We've lost a lot. This was pre-founder collective saying, we have lost our money. Like, Noah is never going to get there.”

“Noah raised six hundred million for 10% dilution when he IPO'd, right?”

“When this company went public, it had a net burn of just six million dollars and an ARR of one hundred and twenty-two million dollars.”

“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 s…”

“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 …”

“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…”

“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.”

“I did pretty well of taking the full twelve-week paid parental leave off.”

“If you'd asked a restaurant operator, what do you want? They would have said, I want a faster drive-through. They wouldn't have said, I want on-demand ordering so that the entire paradigm shifts and the drive-through is no longer the fastest way of getting foo…”

“Having your stakeholders in that order ultimately is the way to best serve all of your stakeholders”

“Where Olo's marketing dollars and PR dollars go is really not in anything consumer or in anything kind of tech press. It's really focused on restaurant buyers”

“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…”