The company offers a restaurant administration and point of
sale (POS) system built on Android. The Toast was established in Cambridge,
Massachusetts, in 2012 by Steve Fredette, Aman Narang, and Jonathan Grimm.
Toast is used in thousands of restaurants, from small cafes to nationwide
enterprises Across the U.S. Toast is a cloud-based, all-in-one digital
technology framework intended to be ideally constructed for the entire
restaurant society. The organisation offers an expansive suite of software,
SaaS, products, and financial technology solutions, comprising incorporated
payment functioning, restaurant-grade hardware, and a comprehensive ecosystem
of third-party associates. The company suits the restaurant’s functioning
system, linking the front and back-of-house processes across dine-in, takeout,
and delivery tracks. In February 2020, Toast acquired $400 million in a round
of Series F funding, including Bessemer Venture Partners and TPG, at a
valuation of $4.9 billion. Until the last day of the year-end 2021, roughly
57,000 restaurant sites, processing over$57 billion of gross payment volume in
the trailing 12 months, partnered with Toast to optimise processes, improve
sales, entertain guests, and sustain pleasant customers and workers.
The company’s Common stock has been listed on the New York Stock Exchange under the symbol “TOST” since 2021. Before that date, there was no public trading market for the company’s common stock. The subsequent graph corresponds to the cumulative total return to stockholders on the common stock with the Standard & Poor’s 500 Index, the S&P 500, and the S&P 500 Information Technology Sector Index. An investment of $100 is assumed to have been made in common stock and in each index in 2021 when the company’s common stock began trading on the New York Stock exchange, and its relative performance is tracked through December 31, 2021. The graph uses the closing market price on September 22, 2021of, of $62.51 per share, as the initial value of our Class A common stock. Data for the S&P 500 and the S&P 500 Information Technology Index assume reinvestment of dividends.
Lightspeed POS Inc. (“Lightspeed” or the
“Company”) was incorporated on March 21, 2005 under the Canada
Business Corporations Act. a. Lightspeed provides easy-to-use, omni-channel,
commerce-enabling platforms. The Company’s software
platforms provide its customers with the critical
functionalities they need to engage with consumers, manage their operations,
accept payments, and grow their business. Lightspeed has customers globally in
over 100 countries, empowering single- and multi-location small and medium-sized
businesses to compete in an omni-channel market environment by engaging with
consumers across online, mobile, social, and physical channels.
The Company’s shares are listed on both the Toronto Stock
Exchange and the New York Stock Exchange (“NYSE”) under the stock
symbol “LSPD” in the year 2019.
The company’s cloud platforms are designed around three
interrelated elements: front-end consumer experience, back-end operations
management to improve our customers’ efficiency and insight, and the
facilitation of payments. Key functionalities of our platforms include full
omni-channel capabilities, point of sale (“POS”), product and menu management,
inventory management, analytics and reporting, multi-location connectivity,
loyalty and customer management. Our position at the point of commerce puts us
in a privileged position for payment processing and allows us to collect
transaction-related data insights. Lightspeed Payments, our payment processing
solution, is currently available to North American retail customers and we have
begun offering it to U.S. hospitality customers as well.
Lightspeed Commerce generates revenue by selling hardware point-of-sales devices to retail and restaurant customers, charging fees on transactions and providing subscription-software services. Because of the pandemic the businesses and hospitality industry experience immense loss this also reflects from the company’s bar graph.
As per the nature of business and consumers, the businesses need apt solutions and they have POS, e-POS and m-POS to choose from. They are different in terms of their benefits to the users and features.
The POS systems are traditionally designed to conduct transactions at traditional stores. A scale to weigh items in a candy or grocery store is an example of a POS terminal. Older POS systems were just written receipts. These days, electronic POS or e-POS have become the new normal.
Electronic POS or e-POS is a cutting-edge technology which is more convenient to receive payments over smart devices. It is very convenient and beneficial to the users and one can easily download it from the play store. It is especially recommended for omnichannel businesses. It is basically an app that generates a link for payment or QR code to be shared with the customer for on-the-spot payments through mobile wallets, digital banking, cards, etc. This application is ready-to-use and accepts payments in any form on the go. Businesses can run their store smoothly with this app. They don’t have to worry about discrepancies and inaccuracies any time.
It provides a lot of benefits that e-POS can provide and it is even more convenient in areas where e-POS wouldn’t be sensible enough. Overall functioning of ePOS and mPOS is similar as they provide similar solutions to meet quick requirements of businesses. For example, one can use m-POS terminals in exhibitions and other sales environments. It provides fraud detection and high security to the merchant and adds a feeling of security for the customers to use cards. It helps buyers to avoid the inconvenience of cash payments. It can be distributed to several kiosks and stalls where sale is available. It also saves owners and delivery points to carry lots of coins or cash for change.