Dine-tech startup Toast pulls off a pandemic pivot (and nearly doubles in value)

Crispiest company name yet... Toast is what you're using to pay for your chicken gyro at the local Greek place (don't forget to tap 20% tip). Toast's point-of-sale software and hardware is made specifically for restaurants — so it got extra burnt in 2020:

• The Good: Toast's sales more than doubled in 2019 as tens of thousands of new eateries signed up.
• The Bad: When lockdowns hit in March, Toast's restaurant sales fell 80% in most markets.
• The Ugly: In April, Toast laid off half its employees (1.3K people) as restaurants shuttered.

Think fast... Toast was expected to be a big pandemic loser, but it quickly pivoted from its dine-in focus to a takeout focus. It added pandemic-friendly services like: delivery, online ordering, e-gift cards, and loans to cash-strapped eateries. It gave its customers a month of free access to digital services, helping them bounce back from dine-in closures.

• The Comeback: Toast is now reportedly valued at $8B, up from its $4.9B valuation in pre-lockdown February.