EPISODE_9

The Pitch, Episode Nine: Salido – Investing in People, Girlfriends as ‘Props’

There is nothing Shom Chowdhury likes less than getting stuck with more than his fair share of the tab. Salido, the next generation point of sale service he created with his brother Shu, is meant to address that through tablets and smartphones. If you show up late to a meal and missed a couple hundred bucks in bottle service, no problem. Using Salido you can check in to see exactly what your share is and pay right from your phone.

The brothers have a background in finance and technology, but recently became partners in several local restaurants. They wanted to find a way to integrate today’s smart devices with the work that was going on in these businesses. Salido is one part enterprise software, helping restaurants manage payments, reservations and inventory. It’s also a consumer facing app that lets users easily start a tab at a favorite hangout or split a complicated bill.

The pitch about the business goes over fine. Ben Lerer worked in hospitality and is interested in the possibilities. But the brothers also brought along their girlfriends and made a few comments about the ladies that didn’t go over so well. “Ninety-five percent of what we do is investing in people,” says Jordan Cooper with a sigh. Did Shom and Shu blow their pitch with a tactless joke?

Click through here to learn more about Lerer Ventures.

Want to know more about all the companies involved? Check out our founders guide here.

And if you need to catch up, here’s the premier episode of The Pitch.

This video was originally published on 12/05/11.