Olo Inc., the food-ordering software company whose board members include Shake Shack Inc. founder Danny Meyer, climbed 39% in its trading debut Wednesday after raising $450 million in an initial public offering.
The New York-based company sold 18 million shares for $25 each on Tuesday after marketing them for $20 to $22, a range it had earlier elevated from $16 to $18. Olo’s shares opened at $32 and closed at $34.75 in New York, giving it a market value of $4.93 billion.
