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Tech Tracker: Toast seeks $18 billion IPO valuation; Yum finalizes Dragontail acquisition
 
This month, the biggest news in the technology world was restaurant tech company Toast announcing its intention to go public — aiming for an estimated IPO worth of $16 billion and showing just how influential and powerful foodservice tech has become. Tech Tracker rounds up what’s happening in the technology sphere of the restaurant industry, including news with restaurants, vendors, and digital platforms. 

Boston-based restaurant software platform Toast is going public and seeks an initial public valuation of $16 billion, according to an SEC regulatory filing from Monday. Shares will be priced between $30-$33, with the technology company ostensibly raising upwards of $717.4 million. The 10-year-old company plans to trade under the stock symbol, TOST. According to the SEC filing, Toast’s annual revenue is approximately $494 million, with 118% year-over-year growth and the tech company partners with approximately 48,000 foodservice locations.

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 Franchise Updates

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Perspire Sauna Studio Heats Up with 50 Signed Franchise Agreements

Athletic Brewing Company Partners With Fleet Feet To Expand Its Retail Footprint  

 

Subway Launches Direct Delivery Nationwide

 

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Jack in the Box Opens New Location in Houston

 

Jack in the Box Introduces New Cluck Chicken Sandwich and BBQ Cluck Sandwich

 

KFC Foundation Grants 11 Non-Profits Total of $110K

 

Halo Burger Celebrating 98th Birthday with $1.98 Burgers

 

Impossible Chicken Nuggets Join Menu at Fatburger

 

DQ Grill & Chill Opens in Whitebluff, Tennessee

 

Tijuana Flats to Offer Free Guacamole on National Guacamole Day

 
Dog Haus Signs Agreement to Open Two Locations in Michigan
 
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