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The pain at the -- is -- a pain for our next guest tonight small business spotlight.
These folks Trace the daily retail gasoline and diesel prices -- more than a 145000.
Gas stations all over the country every day.
Gas buddy dot -- says the national average of gasoline is just about three dollars and 76 cents right now.
Gas prices may be going down but that's not necessarily good news because it might mean a shaky economy worldwide we welcome.
That's -- dot com co-founder and CEO Jason -- Jason good to see you thanks for governor and appreciate whose idea was this Jason and how did it.
What was that -- -- moment when it came to you.
But yeah I am I destined to pal and I thought -- of the company and -- -- what we noticed was gas prices very alive to drive down the street.
And -- -- for fifteen or twenty cents per gallon cheaper.
But depending on the location so we thought let's start a -- -- where people can share this information.
So -- you literally are driving down a street together and what he has said gee I wish I knew what the cheapest get.
Hey look it up on the Internet maybe there's nothing on the Internet -- ideas allocating it.
Gather basically you know and and the thing is is that the that we will we didn't know the gas is cheaper to on the streets were just -- means that the difference was so much.
And we thought -- -- a website where people can share of this.
As it turns out there you know it's it's there's typically a thirty to fifty cent difference between the high and the low price in any city.
Yeah I'd say I've been amazed at how the latest New Yorkers New York's an extreme example of that because.
You have Manhattan and you have some of the outer boroughs where it's it's a lot -- you -- have a fifty cent a gallon.
Difference in New York but.
I was -- competition for this idea I mean it seems like a simple thing when he got -- was or somebody out there doing the same thing when you guys had the idea to start your company.
Badly need -- -- really didn't seem to be many other there was a so they're doing the same thing.
And there's couple that seem like they're geocities or home pages.
But there wasn't anything really serious about it -- I ask how you guys are not only serious but you have to it and correct me if I heard this figure I didn't believe it was right.
Price spotters all over the country is that correct.
The Iowa that's then the number of actual registered people -- -- -- posts and submit prices you don't actually need to be registered to do that.
That's extraordinary now how this it for one thing this is an amazing list to have a list like this.
Is worth a lot of money just to have all these people together or they're -- they're retailers are stuff that would like that.
Borrow your list and and sell stuff to them.
-- -- -- retailers to reference gas but he all the time you know and how stations actually set their prices is they pay very close attention to -- competitors.
So -- somebody -- beating them if they wanna beat it's you know do they -- at least match or beat their competitors.
And that's what really makes -- work is is that you.
You shop for the cheapest price stations and forces the higher positions to lower their prices go I I yeah I understand how that works but I -- -- how you make money.
I -- is is it off of lending your list out as it is it because of sales to advertisers or what.
That's -- leader of -- -- -- on the let's say it's and that's what we disappeared bills and it's it's how much of about two million dollars worth ads this year.
Now on I'd say it's a lot less and actually we're not anything like FaceBook -- -- And is this enough to to keep operating -- states and keep coming out with that with the destiny -- you know groupon doesn't have doubts groupon doesn't have much right now but they're being mean you know they're they're being bought for for a lot of money is -- -- people nibbled it the idea of buying you guys.
You know that we haven't really heard of anybody you know serious you know.
Well there have been a few venture cap companies contact us sudden nobody -- offered buyouts are adjacent to Justin j.'s well best of luck to yet thank you for coming in Jack.
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