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.