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Toast IPO: the restaurant software maker’s TOST shares debut on the NYSE today

The company makes the software that allows restaurants to take orders on smartphones and tablets.

Toast IPO: the restaurant software maker’s TOST shares debut on the NYSE today
[Photo: Alena Shekhovtcova/Pexels]

The latest tech IPO belongs to Toast Inc., a company that makes point-of-sale (POS) software for restaurants that runs on Android tablets and smartphones. The Toast platform handles everything from in-store orders, online orders and delivery, to restaurant marketing. And today the company’s shares debut to the public. Here’s what you need to know:

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  • What is Toast? It’s a point-of-sale hardware and software company that serves the restaurant industry. Toast is based in Boston, Massachusetts, and was founded in 2012.
  • When is Toast’s IPO? Toast’s initial public offering takes place today, September 22, 2021.
  • Which exchange will Toast shares trade on? Toast will trade on the New York Stock Exchange (NYSE).
  • What is Toast’s ticker symbol? Toast shares will trade under the ticker TOST.
  • How much are TOST shares? The initial offering price of TOST shares is $40 per share; 21,739,131 shares are available.
  • Was Toast impacted by the COVID-19 pandemic? Its employees certainly were. In April 2020, Toast announced it was laying off half of its workforce as restaurants shuttered across the world and restaurant revenue sharply fell.
  • How much is Toast worth? In November 2020, CNBC said Toast was worth $8 billion—over $3 billion more than at the start of the pandemic. According to the Boston Globe, the new share price would put Toast’s valuation in the $20 billion range.
  • How many restaurants use Toast’s software? The company says around 48,000 restaurants use its software today.
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About the author

Michael Grothaus is a novelist, journalist, and former screenwriter. His debut novel EPIPHANY JONES is out now from Orenda Books. You can read more about him at MichaelGrothaus.com

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