A Product Market Fit Show | Startup Podcast for Founders

It took him 7 years to hit $1M ARR—now his $1B public company does $1M every day. | Noah Glass, Founder of Olo

Mar 3, 2025

Noah Glass, founder of Olo, a leader in restaurant technology, shares the fascinating journey from launching a pre-order app in 2005 to leading a $1B public company. He discusses the challenges of raising funds during the financial crisis and the strategic pivot from a marketplace to a B2B SaaS model. Noah reveals how early guerrilla marketing and a pivotal partnership with La Colombe propelled Olo into the spotlight. He emphasizes perseverance, adaptability, and embracing adversity as keys to success in the competitive tech landscape.

01:10:28

Episode guests

Noah Glass

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Episode notes

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Quick takeaways

Noah Glass highlights that unwavering commitment to one's vision is essential for entrepreneurial success, often necessitating bold sacrifices and resilience.

The innovative business model of Olo evolved from a mobile ordering concept into a successful B2B platform, adapting to market demands over time.

Significant growth in Olo was facilitated by embracing challenges, nurturing a strong company culture, and a dedication to continuous improvement.

Deep dives

Commitment to the Vision

A significant theme discussed is the importance of unwavering commitment to one's vision. The speaker emphasizes that true dedication often requires making bold decisions, such as withdrawing from prestigious opportunities like Harvard Business School to fully pursue entrepreneurial aspirations. This commitment is paired with the understanding that the path of entrepreneurship will be fraught with challenges, referred to as 'embracing the suck.' Success, he argues, is achievable through resilience and grit, which ultimately sets winners apart from their competitors.

Intro

2min

The Birth of Olo: From Inspiration to Innovation

6min

Building an Order Management Revolution

23min

Serendipity and Innovation: A Groundbreaking Partnership in Coffee Ordering

4min

Navigating the Enterprise Restaurant Landscape and Leveraging B2B Opportunities

2min

Navigating Crisis: The Evolution from Marketplace to B2B SaaS

2min

Press Coverage and the Fundraising Journey

4min

Transforming Business Models in the Restaurant Tech Space

22min

Navigating the Journey: Vision and Flexibility in Business Growth

5min

In 2005 most people didn't even have cellphones yet. Those who did used flip phones. That's when Noah started Olo, a webapp to let people pre-order coffee from nearby shops. Users had to login on web, add a credit card, create pre-made orders and then send a text to a preset number when they wanted to pre-order. It was way, way ahead of its time.

Noah and his team 7 years to hit $1M in ARR. In the meantime, they raised a round with 50% dilution the week before the financial crisis, went on live TV to an audience on 6M viewers and had to pivot from a marketplace to B2B SaaS.

But overtime smartphone penetration increased, on-demand ordering became a trend, and then, one day, Starbucks launched their app. All of a sudden, every single restaurant in the world wanted a way to let their users pre-order.

And there was Noah and his team at Olo.

Today, Olo is a public company worth over $1B and generating nearly $300M in sales. Here's the story of how it happened.

Why you should listen:

How to use guerrilla marketing tactics to get early growth.
Why PR can move the needle but not in ways you expect.
How to pivot from a marketplace to B2B SaaS.
Why it often takes much longer than you might hope to hit an inflection point.
Why fundraising was so hard, even though Olo became a $1B+ public company.
Why Noah thinks founders should embrace challenges and adversity.

Keywords
Olo, Noah Glass, entrepreneurship, product-market fit, restaurant technology, mobile ordering, startup journey, business challenges, marketing strategies, innovation

Timestamps:
(00:00:00) Intro
(00:02:20) Building an app in 2005
(00:13:20) The Burn the Boats Moment
(00:16:31) Building A Network Business
(00:26:08) The Cold Start Problem
(00:30:33) A Happy Accident
(00:36:55) Going through the 2008 Financial Crisis
(00:51:20) Finding Product Market Fit
(00:57:20) Blueprint of Values
(01:05:11) Best Piece of Advice
(01:06:08) A Big Milestone

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