WEBVTT - Giftagram's Reid on Father's Day Outlook, Funding Round (Audio)

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<v Speaker 1>You're listening to taking stock with Pim Box and Kathleen

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<v Speaker 1>Hayes on Bloombird Radio. Looking for a gift for fathers.

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<v Speaker 1>They are really a gift for any particular day. Well,

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<v Speaker 1>one gift giving service is three clicks and you're done.

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<v Speaker 1>Here to tell us more, Jason Reid, chief executive and

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<v Speaker 1>the co founder of Gift to Graham their base both

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<v Speaker 1>in Los Angeles and in Toronto. Jason, thanks very much

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<v Speaker 1>for being with us. Thank you. Tim. Tell us how

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<v Speaker 1>this all works. I mentioned that it's kind of a

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<v Speaker 1>three click experience. But tell us about Gift to Graham,

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<v Speaker 1>how you created it, and what's behind this new app.

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<v Speaker 1>Certainly thank you for that intro. Gftogram really is looking

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<v Speaker 1>to change the way people send things to each other,

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<v Speaker 1>getting in a way is become a bit of a

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<v Speaker 1>lost start, and for me personally, it was such a

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<v Speaker 1>last minute Russian pain ployer. I is always dropping everything

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<v Speaker 1>to go find that perfect gift for somebody, and I

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<v Speaker 1>think we always want to. Our intention is always there

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<v Speaker 1>to make a great impression and do something thoughtful. But uh,

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<v Speaker 1>it seems like anything today you know, should be on demand,

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<v Speaker 1>and we essentially built an app that enables you to

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<v Speaker 1>uh send the thoughtful nicle gifts to somebody, uh instantly

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<v Speaker 1>using your using your smartphone. So if how does this

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<v Speaker 1>compete with Amazon, which has lots of merchandise at all levels,

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<v Speaker 1>But certainly a lot of people look to Amazon for

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<v Speaker 1>a better price plus Amazon Prime shipping. So if you

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<v Speaker 1>pay that yearly fee, you can shift things for free

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<v Speaker 1>oftentimes really fast. Are you trying to get the higher

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<v Speaker 1>end of the market and give this a little more

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<v Speaker 1>of a special feeling? What's your cook Our Our focus

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<v Speaker 1>really is around curating best in class thoughtful gifts. So,

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<v Speaker 1>especially in mobile, you often don't want to be scrolling

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<v Speaker 1>through pages and pages of products to try to find

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<v Speaker 1>that perfect thing. You know. Amazon's obviously a great service

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<v Speaker 1>UH technology, and we build Distogram in a different way

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<v Speaker 1>as a lot of a personal gifting concierge. So when

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<v Speaker 1>you scroll through our our very well expertly curated categories,

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<v Speaker 1>you're barn to find something UM for that individual that

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<v Speaker 1>you're shopping for, whether it's your you know, dad, for

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<v Speaker 1>Father's Day of course, which is coming up. We have

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<v Speaker 1>a whole category curated for Dad's UM and we tap

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<v Speaker 1>into our network of over two hundred retailers and distributors

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<v Speaker 1>that we partner with to essentially curate those products to

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<v Speaker 1>the marketplace. So the main differentiator is the curation. The

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<v Speaker 1>other piece that we do, which is unique to gift

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<v Speaker 1>a gram is be enabled you to send it instantly

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<v Speaker 1>without eating that person's actual address. The way we built

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<v Speaker 1>our technology is you said the gift Agram through a

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<v Speaker 1>text or email notification. Once the recipient receive that, they're

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<v Speaker 1>able to provide the preferred delivery address. At that point

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<v Speaker 1>you got to get this process and sentence to them.

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<v Speaker 1>Usually rise within three to five business days, uh something.

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<v Speaker 1>Of course, we want to eventually make the same day delivery,

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<v Speaker 1>which is actually something we're working on right now, but

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<v Speaker 1>they receive that notification right away, so it's essentially an

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<v Speaker 1>on demand type of experience. Jason explain, how if you

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<v Speaker 1>are a retailer such as Drake General Store, know that

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<v Speaker 1>that is one of the retailer that is part of

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<v Speaker 1>your program. How can people join gift to Gram if

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<v Speaker 1>they are their own retailer? Sure? And the Jarry General

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<v Speaker 1>Store is actually one of our early partners that we

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<v Speaker 1>launched with at the Toronto a couple of years ago,

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<v Speaker 1>and we now expanded, as I mentioned, we had well

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<v Speaker 1>with two hundred partners. We launched in the US just

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<v Speaker 1>before the holidays, and we work with phenomenal brands down

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<v Speaker 1>there such as you know, Sugar, Sina Club, w for Wine,

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<v Speaker 1>this is Ground, which is a really cool bast growing

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<v Speaker 1>uh leather accessory, the company, uh you know, the Honest Company,

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<v Speaker 1>Last Brother's Chocolate, four Seasons kind of goes onto there. Um,

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<v Speaker 1>So partners that are interested in working with us, because

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<v Speaker 1>that's really the other side. We work with not only

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<v Speaker 1>great national brands, but also up and coming UH brand

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<v Speaker 1>and local retailers that are looking for a mobile distribution solutions.

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<v Speaker 1>So we get and down request every day. We don't

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<v Speaker 1>take all of them. Were very selective with UH what

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<v Speaker 1>products and what partners we bring on the appsodut's certain

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<v Speaker 1>criteria that we look for, but partners or brands are

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<v Speaker 1>interested are welcome to connect with us at info at

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<v Speaker 1>ptogram dot com. So, UH, what is your background? What

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<v Speaker 1>led you into retailing like this? And I just have

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<v Speaker 1>to ask. So I got a dear friend's son, got

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<v Speaker 1>a sendem a graduation gift. It's father's day. Coming up

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<v Speaker 1>as someone with such a background here, what advice can

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<v Speaker 1>you give us? Sure? Well, you know, I grew up

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<v Speaker 1>in a very entrepreneurial environment. My background is actually finance,

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<v Speaker 1>but I've worked pretty much all of my career with

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<v Speaker 1>UH high growth technology reb and media companies, and um,

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<v Speaker 1>you know, it was really in two thousand twelve when

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<v Speaker 1>we started incubating the idea that actually evenly launched in Toronto,

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<v Speaker 1>and that for me was a bit of a catalyst

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<v Speaker 1>or a lightbulb moment around having a such a phenomenal

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<v Speaker 1>UH simple mobile user experience. So he really boarded out

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<v Speaker 1>of that UM and a mobile first UH and user

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<v Speaker 1>experience first approach to building a product UM and although

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<v Speaker 1>my box his finance, most of my passions around brand

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<v Speaker 1>and and building technology. And I've been fortunate to work

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<v Speaker 1>with some very interesting entrepreneurs and success stories along the way.

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<v Speaker 1>Al Right, that moment, that moment the life bulk goes

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<v Speaker 1>on in your head, I've got to have one of those, Jason,

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<v Speaker 1>I'm waiting. Oh well, Jason Reed, thank you so much

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<v Speaker 1>for joining us. CEO co founder of gift Agram. You

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<v Speaker 1>can follm on Twitter at gift Agram, and of course

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<v Speaker 1>you can go to their website if you want to

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<v Speaker 1>get some great ideas for grads and dad's This is

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<v Speaker 1>Bloomberg Radio coming up on taking Stock. We're gonna talk

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<v Speaker 1>about the beverage industry. If you have an idea for

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<v Speaker 1>a beverage, think it's going to be popular, You're gonna

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<v Speaker 1>want to know what our next guest thinks. He's the

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<v Speaker 1>president of Talking Rain beverage company. That's next