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Giftagram's Reid on Father's Day Outlook, Funding Round (Audio) · Bloomberg Intelligence

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  Speaker 1: thank you very much, and to hear live breaking news
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  Speaker 1: on your terminal. I'm Charlie Potton Days a Bloomberg business flash.
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  Speaker 1: You're listening to taking stock with Pim Box and Kathleen
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  Speaker 1: Hayes on Bloombird Radio. Looking for a gift for fathers.
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  Speaker 1: They are really a gift for any particular day. Well,
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  Speaker 1: one gift giving service is three clicks and you're done.
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  Speaker 1: Here to tell us more, Jason Reid, chief executive and
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  Speaker 1: the co founder of Gift to Graham their base both
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  Speaker 1: in Los Angeles and in Toronto. Jason, thanks very much
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  Speaker 1: for being with us. Thank you. Tim. Tell us how
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  Speaker 1: this all works. I mentioned that it's kind of a
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  Speaker 1: three click experience. But tell us about Gift to Graham,
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  Speaker 1: how you created it, and what's behind this new app.
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  Speaker 1: Certainly thank you for that intro. Gftogram really is looking
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  Speaker 1: to change the way people send things to each other,
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  Speaker 1: getting in a way is become a bit of a
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  Speaker 1: lost start, and for me personally, it was such a
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  Speaker 1: last minute Russian pain ployer. I is always dropping everything
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  Speaker 1: to go find that perfect gift for somebody, and I
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  Speaker 1: think we always want to. Our intention is always there
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  Speaker 1: to make a great impression and do something thoughtful. But uh,
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  Speaker 1: it seems like anything today you know, should be on demand,
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  Speaker 1: and we essentially built an app that enables you to
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  Speaker 1: uh send the thoughtful nicle gifts to somebody, uh instantly
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  Speaker 1: using your using your smartphone. So if how does this
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  Speaker 1: compete with Amazon, which has lots of merchandise at all levels,
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  Speaker 1: But certainly a lot of people look to Amazon for
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  Speaker 1: a better price plus Amazon Prime shipping. So if you
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  Speaker 1: pay that yearly fee, you can shift things for free
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  Speaker 1: oftentimes really fast. Are you trying to get the higher
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  Speaker 1: end of the market and give this a little more
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  Speaker 1: of a special feeling? What's your cook Our Our focus
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  Speaker 1: really is around curating best in class thoughtful gifts. So,
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  Speaker 1: especially in mobile, you often don't want to be scrolling
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  Speaker 1: through pages and pages of products to try to find
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  Speaker 1: that perfect thing. You know. Amazon's obviously a great service
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  Speaker 1: UH technology, and we build Distogram in a different way
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  Speaker 1: as a lot of a personal gifting concierge. So when
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  Speaker 1: you scroll through our our very well expertly curated categories,
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  Speaker 1: you're barn to find something UM for that individual that
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  Speaker 1: you're shopping for, whether it's your you know, dad, for
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  Speaker 1: Father's Day of course, which is coming up. We have
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  Speaker 1: a whole category curated for Dad's UM and we tap
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  Speaker 1: into our network of over two hundred retailers and distributors
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  Speaker 1: that we partner with to essentially curate those products to
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  Speaker 1: the marketplace. So the main differentiator is the curation. The
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  Speaker 1: other piece that we do, which is unique to gift
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  Speaker 1: a gram is be enabled you to send it instantly
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  Speaker 1: without eating that person's actual address. The way we built
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  Speaker 1: our technology is you said the gift Agram through a
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  Speaker 1: text or email notification. Once the recipient receive that, they're
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  Speaker 1: able to provide the preferred delivery address. At that point
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  Speaker 1: you got to get this process and sentence to them.
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  Speaker 1: Usually rise within three to five business days, uh something.
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  Speaker 1: Of course, we want to eventually make the same day delivery,
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  Speaker 1: which is actually something we're working on right now, but
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  Speaker 1: they receive that notification right away, so it's essentially an
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  Speaker 1: on demand type of experience. Jason explain, how if you
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  Speaker 1: are a retailer such as Drake General Store, know that
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  Speaker 1: that is one of the retailer that is part of
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  Speaker 1: your program. How can people join gift to Gram if
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  Speaker 1: they are their own retailer? Sure? And the Jarry General
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  Speaker 1: Store is actually one of our early partners that we
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  Speaker 1: launched with at the Toronto a couple of years ago,
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  Speaker 1: and we now expanded, as I mentioned, we had well
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  Speaker 1: with two hundred partners. We launched in the US just
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  Speaker 1: before the holidays, and we work with phenomenal brands down
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  Speaker 1: there such as you know, Sugar, Sina Club, w for Wine,
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  Speaker 1: this is Ground, which is a really cool bast growing
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  Speaker 1: uh leather accessory, the company, uh you know, the Honest Company,
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  Speaker 1: Last Brother's Chocolate, four Seasons kind of goes onto there. Um,
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  Speaker 1: So partners that are interested in working with us, because
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  Speaker 1: that's really the other side. We work with not only
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  Speaker 1: great national brands, but also up and coming UH brand
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  Speaker 1: and local retailers that are looking for a mobile distribution solutions.
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  Speaker 1: So we get and down request every day. We don't
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  Speaker 1: take all of them. Were very selective with UH what
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  Speaker 1: products and what partners we bring on the appsodut's certain
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  Speaker 1: criteria that we look for, but partners or brands are
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  Speaker 1: interested are welcome to connect with us at info at
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  Speaker 1: ptogram dot com. So, UH, what is your background? What
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  Speaker 1: led you into retailing like this? And I just have
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  Speaker 1: to ask. So I got a dear friend's son, got
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  Speaker 1: a sendem a graduation gift. It's father's day. Coming up
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  Speaker 1: as someone with such a background here, what advice can
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  Speaker 1: you give us? Sure? Well, you know, I grew up
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  Speaker 1: in a very entrepreneurial environment. My background is actually finance,
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  Speaker 1: but I've worked pretty much all of my career with
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  Speaker 1: UH high growth technology reb and media companies, and um,
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  Speaker 1: you know, it was really in two thousand twelve when
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  Speaker 1: we started incubating the idea that actually evenly launched in Toronto,
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  Speaker 1: and that for me was a bit of a catalyst
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  Speaker 1: or a lightbulb moment around having a such a phenomenal
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  Speaker 1: UH simple mobile user experience. So he really boarded out
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  Speaker 1: of that UM and a mobile first UH and user
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  Speaker 1: experience first approach to building a product UM and although
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  Speaker 1: my box his finance, most of my passions around brand
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  Speaker 1: and and building technology. And I've been fortunate to work
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  Speaker 1: with some very interesting entrepreneurs and success stories along the way.
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  Speaker 1: Al Right, that moment, that moment the life bulk goes
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  Speaker 1: on in your head, I've got to have one of those, Jason,
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  Speaker 1: I'm waiting. Oh well, Jason Reed, thank you so much
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  Speaker 1: for joining us. CEO co founder of gift Agram. You
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  Speaker 1: can follm on Twitter at gift Agram, and of course
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  Speaker 1: you can go to their website if you want to
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  Speaker 1: get some great ideas for grads and dad's This is
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  Speaker 1: Bloomberg Radio coming up on taking Stock. We're gonna talk
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  Speaker 1: about the beverage industry. If you have an idea for
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  Speaker 1: a beverage, think it's going to be popular, You're gonna
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  Speaker 1: want to know what our next guest thinks. He's the
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  Speaker 1: president of Talking Rain beverage company. That's next