Preo CEO Richard Liang will be presenting his startup idea to Deirdre Bolton on Risk & Reward on Friday. Preo aims to make it easier for ordering food and beverages at restaurants.
The app allows patrons to place a drink order through the app, instead of waiting in line. Once the order is ready, users are alerted about where to pick up their items.
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The startup is also working on building a receipt printer, to make the ordering process more efficient for vendors. This printer would alert app users that their order is being prepared.
Preo is looking to target users aged 21-35, who frequent bars, nightclubs, coffee shops and restaurants. As for vendors, they are looking at venues with over $1 million in sales or serve at least 50 guests per hour.
Prior to starting Preo, Liang was a “bartender turned private equity investor.” He says that when he worked as a bartender he spent half of his time counting cash and swiping credit cards.
Liang started Preo when he was getting his MBA at Columbia University. He co-founded the business with Robert Estelle, who is now the CTO.
Preo previously raised $195,000 in capital and has $120,000 committed from its latest round, but the firm is hoping to obtain $1.25 million to carry out their goals. Liang will be making the case for his startup idea to “Disrupt” author Luke Williams, Starvest partner Laura Sachar and Bessemer Venture Partners analyst Anna Khan on FOX Business at 1pm on Friday.