Independent Research, Food Delivery Space, Newmoon Capital

Newmoon Capital

We look for owner-operators in what we believe are either highly defensible assets or soon to be highly defensible assets, trading at a fraction of their future potential.

Independent Research, Food Delivery Space

Equity Bottom-Up

<p>Businesses exist to solve problems. Generally, the level of monetisation and the defensibility of that monetisation depends on the difficulty of solving those problems and whether there is a path to replicating that business. This is why we generally do not like businesses that compete with their ecosystem (i.e., those whose incentives do not align with their suppliers/users), instead preferring those that enrich it. Olo belongs to the latter.</p>

Businesses exist to solve problems. Generally, the level of monetisation and the defensibility of that monetisation depends on the difficulty of solving those problems and whether there is a path to replicating that business. This is why we generally do not like businesses that compete with their ecosystem (i.e., those whose incentives do not align with their suppliers/users), instead preferring those that enrich it. Olo belongs to the latter.

Olo Inc

Olo Part 2 - Value Proposition