Job cuts ensue at Olo following private equity takeover
In a recent development, tech company Olo, a leading supplier for over 750 restaurant chains, announced layoffs on Tuesday. The move comes after the company's acquisition by the private-equity firm Thoma Bravo, which closed the deal last week for $2 billion.
The latest round of job cuts at Olo is part of its transition to new ownership under Thoma Bravo. This is not an uncommon occurrence in private-equity transactions, as buyers often look to improve the return on their investment. Thoma Bravo has made similar moves with other holdings in the past.
Despite its growth and profitable years, Olo's stock price declined 65% during its time on the public markets. In an effort to focus resources on key areas that matter most to its customers, Olo announced a deal to sell itself in July 2025, four years after going public.
The next location or expansion steps of Olo after the acquisition by Thoma Bravo are not publicly disclosed or announced as of September 2025.
Social media posts from laid-off employees suggest that multiple departments at Olo were impacted by the job cuts. The scope of the layoffs is unclear at this time. As of the end of last year, Olo had 617 employees across the U.S.
Olo was founded in 2005 and offers online ordering, digital order integration, payments, and marketing tools. During its time on the public markets, the company grew revenue by an average of 24% annually and turned a profit in 2024.
It's important to note that Facebook, Twitter, and LinkedIn are not directly involved in the layoffs at Olo.
Thoma Bravo, a large private-equity firm, has a history of acquiring and restructuring companies to improve their performance. The firm has made significant investments in various industries, including software, financial services, and technology.
Olo's statement to Restaurant Business indicates that these organizational changes will enable the company to focus resources on key areas that matter most to its customers. The company remains committed to providing innovative solutions for the restaurant industry.
As the industry continues to evolve, it will be interesting to see how Olo adapts under its new ownership and what the future holds for the tech company.
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