![]() “Increasingly, it's also about really great technology and a really great digital presence, and having an end-to-end platform allows us to do that. “Pre-Covid, to run a great restaurant, it was about really good food and really good service,” he says. ![]() Thousands of new images every day Completely Free to Use High-quality videos and images from. ![]() The company’s employees, whose count has grown back to 2,200, have specific expertise to address customer concerns two-thirds of them have previously worked in the restaurant industry, he says. Download and use 2000+ Toast stock photos for free. Narang touts Toast’s exclusive focus on restaurants as an asset in its quest to expand its market share. Its stock is up 67% in the past year, though it has been buoyed in part by the success of its consumer-oriented Cash App business. Square offers a full payments and employee management software suite to businesses, much like Toast, though it casts a wider net, working with retailers and restaurants alike. Toast Stock Market Widget, Toast widget is a small popup that appears on page load and displays the latest price of a given asset. Perhaps a better proxy to Toast is competing payments software firm Square, which went public in 2015 and turned a yearly profit for the first time four years later. The San Francisco company, which also has yet to turn a profit, is now trading at 21% above its opening price, sporting a market capitalization of $74 billion. Like Toast, food delivery app DoorDash rebounded from an initial pandemic hit before going public last December. “When Covid first hit, it was a tough time for everybody, but especially for restaurants, so we had to make sure that they had the digital tools to be able to pivot in this world,” Narang says. About 80% of Toast’s revenue is earned from taking a cut of payments completed through its platform the remainder comes from selling its hardware and subscription-based software. But a digital shift helped the startup to rebound rapidly as restaurants shifted to delivery and pickup models and increasingly relied on Toast’s software to conduct the transactions. The company, which employed 3,000 at the time, laid off half its staff. In February 2020, the startup raised $400 million from investors at a $4.9 billion valuation, but a mass business shutdown the following month caused sales to plummet at restaurants and, in turn, at Toast.
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