Thoma Bravo paid about $2.0B in cash for Olo. What makes restaurant software a good LBO candidate?
Olo, an open SaaS platform for restaurants, agreed on July 3, 2025 to be acquired by Thoma Bravo in an all-cash transaction valuing Olo at approximately $2.0B in equity value. Restaurant ordering software has a few things sponsors like on paper: recurring revenue, deep integration into restaurant operations, and a customer base that is large but fragmented. It also has risks. Restaurant groups consolidate, go bankrupt and push back on fees, and consumer ordering habits can shift to other channels. I am trying to build a view on how to underwrite a vertical SaaS take-private like this one. What is the first thing you look at, net revenue retention, customer concentration, or take rate and pricing power? And how much of the case is cost cutting versus growth? I do not have Olo's revenue or EBITDA in front of me, so I would love to hear how people frame the multiple for a business like this.
This website is going to go to hell in a handbasket if we let shit like this persist. This is AI slop and even acknowledges he didn't look up publicly available financials.
The next generation is going to be pretty soft if we allow nonsense like this to continue. The experienced people that want to give back will just avoid the site.
indeed, why should we even bother to educate a lazy kid that didn't even bother to understand it himself before asking others? clearly shows a lack of interest/dedication/passion, so just a loss of time investing in such youth
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