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2021-03-18

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Olo fell more than 10%

(March 18) Olo fell more than 10% on the first day after IPO. Olo Inc. , which makes software to he

Olo fell more than 10%

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Shares later pulled back some, but still closed at $34.75, up 39% on the session.\nOlo provides Software as a Service (or \"SAAS\") to eateries to help with online ordering, pickup and delivery.\nThe company’s 400+ restaurant clients include such well-known chains as Chili’s, Five Guys, Shake Shack(NYSE:SHAK), Sweetgreen and Wingstop(NASDAQ:WING).\nShake Shack founder Daniel Meyer owns about 1.1% of Olo’s Class B shares and sits on the company’s board.\nOlo raised $450M by selling 18M shares at $25 apiece. 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