jgrabar
2 years ago
In February 2020, the Company announced a partnership with Subway® restaurants to enable Subwayโs more than 20,000 U.S.-based restaurants to handle digital orders from third-party โmarketplacesโ such as Uber Eats or DoorDash. Throughout the Class Period, Olo touted the growth of its active locations, with Subway accounting for approximately 20% of those locations.
It is alleged that Olo, through certain of its officers, misled investors and/or failed to disclose that (1) Subway was ending its contract with Olo; (2) Oloโs key business metric โ active locations โ could not continue to grow as Defendants touted due to the loss of Subwayโs business; and (3) that, as a result of the above, Defendantsโ statements about Oloโs business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Current Olo shareholders who have held Olo stock since before August 11, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
https://grabarlaw.com/the-latest/olo-shareholder-investigation/
Brokemillwright
2 years ago
Earning out today, not to shabby bit still a sell off. Mid 7, was 9 last week. Starting to get larger customers, jack in the box now
Olo expanded relationships within its existing customer base, increasing product adoption across several product suites. Jack in the Box, a top-25 quick service restaurant, or QSR, with more than 2,200 locations replaced their proprietary digital ordering solution with Oloโs Ordering module.
Olo welcomed leading enterprise brands and convenience stores, or C-Stores, to the platform. Leading enterprise brands such as Smashburger, Ruby Tuesday, and Zaxbyโs selected Olo to replace legacy technology providers, leveraging Oloโs open SaaS platform to implement highly customized and personalized digital programs to their guests, while increasing operational efficiencies. C-Stores such as Maverik - Adventureโs First Stop, an intermountain west operator with nearly 400 locations across 12 states, as well as an east coast operator with more than 200 locations selected Olo to enable their guests to order fresh food for pickup or delivery. C-Stores represent an emerging vertical for Olo given their 55,000 location opportunity.