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Capitalizing on M-Commerce

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    Mozido Chairman Rick Braddock on the opportunities in the growing industry of mobile commerce.

  • Duration 3:44
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All he probably have heard of e-commerce hopefully by now but how about -- -- commerce this next business leaders sees huge opportunity in the budding industry.

Of mobile commerce former Citigroup president -- Braddock is now the chairman of.

Mobile payment company -- know.

He's also the former CEO of Priceline fact he brought Priceline public so -- -- -- of FaceBook which we can talk about later but you say this -- go.

Is the biggest idea you have ever worked on describe -- force what is it.

Well I would say only qualified by saying since I've been in the entrepreneurial world within -- -- still say on whether you have -- ten years.

First of all if you look in a broader context.

The mobile phone is poised to outstrip the Internet.

Pretty much across the board and if you start with a gross numbers -- over six billion mobile phones outstanding globally already.

Which is about three times the number of Internet connection.

They're people aware of -- mobile phones who will never ever be on the Internet.

They're people of mobile phones who will never see a bank branch in the way they do business.

And so there's a tremendous opportunity to reach people in that 6000000002.

Billion around act today.

And many of those are of course in developing markets.

But there are a lot of other benefits that -- mobile phone brings to consumers that the Internet does not well how with -- you know -- capitalizing on that tell us exactly what it guts.

Well we have a very broad based business approach so we're trying to cover.

The whole marketplace and that means they're really three different needs and we're trying to satisfy.

From banks these are people who have been traditionally underserved in terms of how they.

But they're also.

That -- don't usually grossly overpriced for these services.

In addition of that marketers cannot reach that in many of these people are very attractive for the people like Coke and survey severe and whomever to sell to.

So a mobile phone and their hands with the portable computer that is embedded in the mobile phone.

Allows not only for -- -- better and more efficient transactions for these people.

But also allows them to be reached by marketers which gives them a chance to do much more economically advantaged transactions.

And frankly helps them move up the economic ecosystem now.

Rick here's your selling this obviously you've got to be part salesman is is founder of the company but you've been involved in big corporations Citigroup.

Priceline startups like press on which have been enormously successful.

Is is this real actors are a lot of people out there wondering you know what the next big thing that they can invest and -- -- is this -- the time to invest.

Right now on how do you if we want to OK first of all -- an eleven finish with a first answers which I could go on to -- -- -- tell me if you wanted to because they're two other.

Big markets that we're looking to serve and we're doing -- more broadly than any of our competition at least that I'm aware of the if you there was a -- in an article on the front page of the times the other day by a venture capitalists who says.

If I look at venture capital investing today first look at whether they have a mobile application if they don't.

I consider they're not thinking properly about the future -- so this is again on this is that the hottest area there is in the combination of of mobile phones and Internet today and it's it's going to be very very.

We're watching it grow and thanks for being here in the incipient stages records we appreciate it.

Well glad to be would -- some bricks radicalism you don't chairman --

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