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The potential of that FaceBook platform.
And that that billions of newcomers could buy the stock in the company like right -- that company's FaceBook page no Morgan Stanley or NASDAQ Stock Market necessary.
Shares of the company that owns juicy co -- and Kate Spade they began trading this weight -- this morning.
Loyal thirtieth the company make it happen CEO Barry Schneider joins us now -- thanks for being with us so now person who likes.
Kate -- can go to a Kate Spade FaceBook page actually buy the stock.
It's amazing you pull this off without any kind of stock market involvement and the SEC is said yes you can do this.
Absolutely and how does that work basically three years in the making we -- -- make it easy and affordable for tens of millions of everyday Americans to invest in their -- brands.
So you -- on year.
-- case I'm Kate Spade.
FaceBook page you've got a simple three click -- buy easily I paid ten dollars as little as ten dollars and I never pay a fee to buy or sell stock.
Well now only 18% of American households actually own stock directly as opposed to mutual funds.
And this could let stock purchasing come to a lot of people never open a brokerage account before how many brands do you hope will be taking part in this on FaceBook.
And the next couple years or were built to scale it's gonna be scaled.
Great statistic 18% for the people today invest in yet 56%.
Investor for a one case.
So we're gonna reduce the friction points make it easy.
Make it affordable and bring tens of millions of Americans are Norplant.
You actually going to be doing an IPO of your own not of your company but up professional diversity network kind of a Linkedin.
For rising executives of color what is that I feel happens not happening on -- stock market tapping on your FaceBook platform and loyal three.
-- our platform works with the exchanges so it worked for NASDAQ it works with new York stock unchanged.
The difference is that company so access and it is sure direct offering.
We worked alongside -- Wall Street.
And we do something that is not prevalent today at all and that is we provide access for every -- people so for PGM.
When he gets ready to.
Certainly hopes its sell its stock originally.
Everyday Americans and have the chance to to buy that stock at the same price as institutions when he gets priced and the institutions invest.
-- keep on our platform will be investing at the same time.
At the same price with -- Fees for the first time -- I mean that's especially good to -- in the wake of all the FaceBook fallout now.
Another interesting angle is you let people buy fractional shares so.
A person who's just a college student -- states are now cannot afford 600 dollar for Google could buy a tenth of a share -- sixty bucks.
And then can even trade these shares back and forth with other loyal three FaceBook users is that right.
Absolutely and and -- through the platform.
They don't really think about attractions because that's our technology debts they buy dollar denominated amounts they can check that valuation close -- business every single day.
And they can invest in the companies that they -- It's like the -- -- like.
The way to really express.
You're finished Rembrandt and people who own shares and come they love they tend to hold it longer -- bailout and adversity.
You have the research shows that these are like our parents used to -- rather than this kind of macro selling the EC today.
Are people that our customer owners hold stock and average five years 36% -- over seven years.
While that is fantastic all right loyal -- CEO Barry Schneider thank you for coming on I think this could be a revolutionary development for small investors -- that -- some.
How are right now they certainly did especially on an analyst -- over the Dallas on -- --
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