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As startups fuel the restaurant tech frenzy, is anyone close to toast? • Tech Crunch

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Technology innovation often It comes in waves, but the restaurant industry got its surf bigger and stronger because of the pandemic.

Startups have sprung up across the industry to help restaurants quickly adapt their operations to a host of new business areas, such as accepting online orders, making deliveries and building different types of relationships with their customers who are now dining. the house

Toast, a financial software company focused on restaurants, is a leader in the space. Founded in 2011, the company went public in late 2021 in an IPO valued at around $18 billion.

Its second-quarter earnings in 2022 confirm its position near the top: the company saw its revenue grow 58% year over year to $675 million, while its net loss narrowed to $54 million from a net loss of $135 million in the same quarter. 2021. Toast also said it is on track to generate $2.6 billion in revenue this year.

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