Global business news twenty four hours a day at Bloomberg dot com, the Radio plus Mobile Act and on your radio. This is a Bloomberg Business flag from Bloomberg World Headquarters. I'm Charlie Pelota. Down day for stocks and we are brought to you by National Realty thirty returns on cash in rented real estate find them at n r i A dot net. Stocks just bouncing off the low of the session. Let's head over to the first word, breaking news best for today's afternoon call, and here is Bill Maloney.
Good afternoon, Charlie. US stocks a week again today with the Dow currently lower by a hundred and one point, says He's drop thirteen and NASEAC falls thirty seven over In Europe, Italy fell two point nine percent, Spade two point two percent, and according to an ic M paul released by The Guardian, UK polls show six point lead for lead small cap six hunder drop seven points send US ten yield at one point six one per cent. All tenn SEV sectors are lower, led by losses in materials,
technology and the industrials. DOWT Transports fall seventy one as a botech slump twenty three and the VIX is higher by twenty one percent. Down Leaders to the downside include American Express, Visa and Microsoft. Microsoft falls two point six percent after it's twenty six billion dollar deal for LinkedIn. Airlines and refiners were weak, while Samantech rose as much as seven point four percent. Samanteic to acquire Bluecoat Systems
for four point six five billion. Live from the first Breaking News to task on Bill Maloney, Charlotte, all right, thank you very much, and to hear live breaking news over your Bloomberg tipe squawk sq you a w K on your terminal. I'm Charlie Potton Days a Bloomberg business flash. You're listening to taking stock with Pim Box and Kathleen Hayes on Bloombird Radio. Looking for a gift for fathers.
They are really a gift for any particular day. Well, one gift giving service is three clicks and you're done. Here to tell us more, Jason Reid, chief executive and the co founder of Gift to Graham their base both in Los Angeles and in Toronto. Jason, thanks very much for being with us. Thank you. Tim. Tell us how this all works. I mentioned that it's kind of a three click experience. But tell us about Gift to Graham, how you created it, and what's behind this new app.
Certainly thank you for that intro. Gftogram really is looking to change the way people send things to each other, getting in a way is become a bit of a lost start, and for me personally, it was such a last minute Russian pain ployer. I is always dropping everything to go find that perfect gift for somebody, and I think we always want to. Our intention is always there
to make a great impression and do something thoughtful. But uh, it seems like anything today you know, should be on demand, and we essentially built an app that enables you to uh send the thoughtful nicle gifts to somebody, uh instantly using your using your smartphone. So if how does this compete with Amazon, which has lots of merchandise at all levels, But certainly a lot of people look to Amazon for
a better price plus Amazon Prime shipping. So if you pay that yearly fee, you can shift things for free oftentimes really fast. Are you trying to get the higher end of the market and give this a little more of a special feeling? What's your cook Our Our focus really is around curating best in class thoughtful gifts. So, especially in mobile, you often don't want to be scrolling through pages and pages of products to try to find
that perfect thing. You know. Amazon's obviously a great service UH technology, and we build Distogram in a different way as a lot of a personal gifting concierge. So when you scroll through our our very well expertly curated categories, you're barn to find something UM for that individual that you're shopping for, whether it's your you know, dad, for
Father's Day of course, which is coming up. We have a whole category curated for Dad's UM and we tap into our network of over two hundred retailers and distributors that we partner with to essentially curate those products to the marketplace. So the main differentiator is the curation. The other piece that we do, which is unique to gift a gram is be enabled you to send it instantly without eating that person's actual address. The way we built our technology is you said the gift Agram through a
text or email notification. Once the recipient receive that, they're able to provide the preferred delivery address. At that point you got to get this process and sentence to them. Usually rise within three to five business days, uh something. Of course, we want to eventually make the same day delivery, which is actually something we're working on right now, but they receive that notification right away, so it's essentially an
on demand type of experience. Jason explain, how if you are a retailer such as Drake General Store, know that that is one of the retailer that is part of your program. How can people join gift to Gram if they are their own retailer? Sure? And the Jarry General Store is actually one of our early partners that we launched with at the Toronto a couple of years ago, and we now expanded, as I mentioned, we had well
with two hundred partners. We launched in the US just before the holidays, and we work with phenomenal brands down there such as you know, Sugar, Sina Club, w for Wine, this is Ground, which is a really cool bast growing uh leather accessory, the company, uh you know, the Honest Company, Last Brother's Chocolate, four Seasons kind of goes onto there. Um, So partners that are interested in working with us, because
that's really the other side. We work with not only great national brands, but also up and coming UH brand and local retailers that are looking for a mobile distribution solutions. So we get and down request every day. We don't take all of them. Were very selective with UH what products and what partners we bring on the appsodut's certain criteria that we look for, but partners or brands are interested are welcome to connect with us at info at
ptogram dot com. So, UH, what is your background? What led you into retailing like this? And I just have to ask. So I got a dear friend's son, got a sendem a graduation gift. It's father's day. Coming up as someone with such a background here, what advice can you give us? Sure? Well, you know, I grew up
in a very entrepreneurial environment. My background is actually finance, but I've worked pretty much all of my career with UH high growth technology reb and media companies, and um, you know, it was really in two thousand twelve when we started incubating the idea that actually evenly launched in Toronto, and that for me was a bit of a catalyst or a lightbulb moment around having a such a phenomenal
UH simple mobile user experience. So he really boarded out of that UM and a mobile first UH and user experience first approach to building a product UM and although my box his finance, most of my passions around brand and and building technology. And I've been fortunate to work with some very interesting entrepreneurs and success stories along the way. Al Right, that moment, that moment the life bulk goes on in your head, I've got to have one of those, Jason,
I'm waiting. Oh well, Jason Reed, thank you so much for joining us. CEO co founder of gift Agram. You can follm on Twitter at gift Agram, and of course you can go to their website if you want to get some great ideas for grads and dad's This is Bloomberg Radio coming up on taking Stock. We're gonna talk about the beverage industry. If you have an idea for a beverage, think it's going to be popular, You're gonna want to know what our next guest thinks. He's the
president of Talking Rain beverage company. That's next