restaurant software TOST stock hits NYSE today

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:

• 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.