noah glass olo net worth

15. September 2020 @ 14:19

Deliveroo is doing it in the UK. I have to renegotiate using, you know, this idea of a term where they’re not able to compete against me with my own trademark keywords. After leaving Industrial Light and Magic, Glass worked on several projects with Marc Canter, founder of Macromind which later became Macromedia, birthplace of Shockwave and later Flash animation & multimedia software. There he was ousted from Twitter. New York, NY 10004 They are differentiated, they’re craveable and they, they’re what they built their franchise upon.We’ve spent some time now talking about what is probably the ultimate food fight happening in the industry.

To subscribe to the podcast or to learn more about our featured guests, visit thanx.com/food-fighters. I mean, so there’s a lot of self inflicted pain that restaurants have brought upon themselves. So I think my comment around chasing top line sales specifically is, you know, when you’re just reporting what percentage of overall sales are digital and you’re just racing to grow same store sales as just purely top line, it can look really attractive and it can be seductive to go after marketplace sales and sign splashy agreements with marketplaces that are going to drive transaction volume to you. Noah Glass is the Founder & CEO of Olo (www.olo.com), the interface between restaurants and the on-demand world.

So, in 2016 we announced Dispatch and it was meant to create a network nationwide of delivery service providers who would truly provide delivery as a service and enable a restaurant brand that was taking an order through its website or app to offer delivery matching that specific order with a third party delivery courier who could come and collect the order at the restaurant on behalf of the consumer and then deliver it to the consumer wherever their delivery address was.And again, in a financial model where the consumer is paying the brand full freight for the cost of the food and paying an additional fee for the convenience, the service of delivery, that fee would go to the delivery service provider and Olo acts something of a clearing house between the two.

And so that’s a playing field that that certainly needs to be leveled.

And I’ll, I’ll share that we had a conversation with, with a large restaurant brand that that said recently, they believe that capturing the data is worth 10 to 15% margin or take rate from the delivery.And I think that makes sense. I saw a really scary analysis.

Far scarier than it has been in the past in this industry.Yeah, I mean, the two extremes, I completely agree with that. I think also that’s going to turn into as this threat of virtual restaurant brands through ghost kitchen becomes more and more real. Where hotels were dis-aggregated from their customers. Uber has been doing some of this Uber secret restaurant network. And I think the two extremes of this commoditization story is, is it a commodity, the food, and the actual differentiated experiences, which marketplace you go to, how efficiently you can get that food and roughly like for like food, what is the lowest cost for wings? Or as I think about it, kind of be their own delivery courier if the cost of delivery is too high. And the question there is, the one that you just highlighted is when focused on third party delivery and on growing digital at all costs. Until next time, keep fighting Food Fighters.Sign up for our newsletter and get notified of new episodes, insider news, and more.Are you interested in being our next guest, or know someone who is? So when I think about what’s been happening really over the last three, four years in the industry, there has been a foot race to grow digital sales of all kinds. And charging the true cost of delivery. And brands can say, Hey, do you want delivery? And the great irony of that is by being a lower commission, you’re pushed to the bottom of the search results on that marketplace and your competitors who are paying full commission are the ones that your customer will start ordering from when they do what you’re telling them to do and go to the marketplace. And that’s a good thing. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.OLO develops an online and mobile ordering platform for restaurants. Currently, Glass is working on his other project called Olo. There’s a lot for restaurants to figure out. I think this has been really insightful and appreciate you joining us today Noah.Zach, thank you so much and thanks for launching this podcast and helping to educate the industry as we go through what is a radical shift and as you said, the greatest food fight of our time.You’ve been listening to Food Fighters with me, Zach Goldstein.

And the marketplaces have set the expectations in the consumer’s mind that it’s not as expensive to get a delivery as it may be in reality. And you know, our, our point is just let’s level the playing field and then it’s up to the marketers to differentiate and draw customers to their platform and create a reason why that’s compelling versus ordering through the marketplaces.I’m concerned that they’re bringing a spoon to this gunfight actually, and that they haven’t even chosen the right tool from the toolkit they have. Noah Glass is CEO/Founder at Olo. The reality is people increasingly want to dine off premise.

But contractually obligating the marketplaces not to use your keywords, critically important. You know, the, the new offering that’s actually a virtual kitchen at a $1 per dozen lower price.” You know, you can imagine customers saying, “Well, this sounds pretty good.