living social acquires onosys, plans to open cleveland office

What began in 2005 as a desire to order a Rascal House pizza online rather than over the phone -- as ONOSYS did when launched by college friends Stan Garber, Oleg Fridman and Alex Yakubovich -- has grown into the second largest leader in mobile and online ordering software for the restaurant industry.
Last week, Living Social acquired ONOSYS, a move that fits squarely into Garber’s plans and expectations for the company.

“We we’re talking about the idea of working together for a while,” says Garber. “It just made sense. We definitely had a vision it was going to grow this big.”
ONOSYS has a track record of 100-percent growth annually. They saw $100 million in sales last year and represented more than 75 brands across the nation.
Financial details of the sale were not disclosed. Living Social plans to open offices in Cleveland, which ONOSYS will run. ONOSYS has grown from five people in 2008 to 20 employees today. “Our goal is to get to 35 to 40 by the end of the year,” says Garber. “We’re going to continue what we’re doing.”
The acquisition is not just good for ONOSYS. Garber sees the move as a positive impact on Cleveland as well. “It’s a bright spot for Cleveland,” he says. “It’s more fuel on the fire for attracting more tech companies to Cleveland. This is a good example that young entrepreneurs in Cleveland don’t need to go to New York, Chicago and L.A. to get recognition.”

Source: Stan Garber
Writer: Karin Connelly
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