Episode 24: Ming-Tai Huh from Toast on hospitality as a differentiator in technology, Toast features, and how technology can bring your restaurant to the next level
As many of us know, restauranteurs are struggling with rising labor costs, and are adapting their businesses to accommodate for the increase in off-premise restaurant sales. In conditions like these, operators are constantly looking for solutions to cut costs and increase revenue.
Toast is a company strategically poised to make real change in the industry. It is a technology platform that combines restaurant POS, front of house, back of house and guest-facing technology with a diverse marketplace of third-party applications, helping restaurants streamline operations, increase revenue and deliver amazing guest experiences. Recently Toast raised $250 million in a Series E round, which brings their valuation to $2.7 billion.
David Yuan at TCV, the growth equity firm that co-led Toast latest round financing says, "At TCV, we invest in companies that have the potential to reshape entire industries, by providing restaurants of all sizes with access to innovative technology to the leveling playing field and leading industry transition to the cloud."
As you can imagine, I was super eager to know more about what Toast is up, and Ming-Tai was gracious enough to sit down and have a chat.
In the podcast today we discuss:
1. Ming's background, and how he transitioned from consulting, to opening Puritan & Company, to working with Toast
2. Toast features, and how it differentiates from the competition
3. Hospitality as a differentiator in technology.
4. How technology can help bring your restaurant, or restaurant group, to the next level.
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