Olo (Online Ordering)

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 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 was founded as GoMobo in 2005 by entrepreneur Noah Glass[1] (renamed “Olo” in 2010). The service allows customers to order and pay ahead over the Internet or through a mobile phone, so that they can "Skip the Line ®" (the brand's registered trademark) at chain restaurants cross the United States.[2] In 2009, New York Magazine referred to GoMobo as "Fandango for Food."[3]

Olo launched in New York City in 2006 and has since expanded to over 20 cities across the nation.[4] In April 2015, Fortune Magazine reported the New York, NY based company has over 10 million customers across over 10,000 restaurants.[5]

Olo Major Restaurant Clients

Olo is a service provider to restaurants that want to add remote ordering capabilities to their existing restaurant websites. Clients include Baskin-Robbins, Chipotle, Five_Guys_Burgers_&_Fries, Jamba_Juice, Noodles & Company, Veggie Grill, Wingstop, and more.

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]

Olo Mobile Services

Olo was the first US online ordering company to release text message ordering capabilities in 2005.[8] Today, Olo works with restaurants to create mobile applications for the Android, Blackberry, and iPhone.[9] Olo also creates mobile-optimized mobile ordering websites, that allow customers to place orders with faster page load times and fewer clicks and keystrokes.

Olo Investors and Funding

Olo has raised USD 23.5 million in total funding[10] from Founder Collective, RRE Ventures, Core Capital, PayPal, Staley Capital, and Danny_Meyer.[11]

References

  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. ↑ Emma Rosenblum (2 August 2009). "Line Cutter". New York Magazine.
  4. ↑ "Food ordering by text message". Springwise. 12 September 2007.
  5. ↑ "Exclusive: Tech firm Olo claims 10 million users". Fortune. Retrieved 2015-11-12.
  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. ↑ "America's Best Young Entrepreneurs". BusinessWeek. 30 October 2006.
  9. ↑ Robin Hilmantel (March 2009). "GoMobo Brings an EZ Pass Lane to Quick-Serves". QSR Magazine.
  10. ↑ "Cheaper, faster restaurant delivery coming?". CNBC. Retrieved 2015-11-12.
  11. ↑ Perez, Sarah. "OLO, An Online And Mobile Ordering Platform For Restaurants, Grabs $5 Million In New Funding From PayPal & Others". TechCrunch. Retrieved 2015-11-12.
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