Leading the consumerization of stock, Stockpile offers the world’s first gift card for stock, making it easier than ever for the average consumer to invest in the stock market. Stockpile allows consumers to purchase stock from local grocery and retail locations.
Today, the gift cards are available at 14,000 grocery and retail locations across the c ountry, including Kroger, Target, Safeway/Albertsons, Wegman’s, Giant Eagle, SuperValu, Hy-Vee, Save Mart, OfficeMax, Office Depot, Kmart, Buehlers and Supervalu. This brand new concept makes buying stock as easy as purchasing any other consumer good.
"Most people have never had an opportunity to own stock in their favorite companies because it's too expensive and complicated to get started," said Avi Lele, founder and CEO of Stockpile. "You can't do anything with $25 at a traditional brokerage. Stockpile removes those barriers by using fractional shares and bringing the stock market to you. For the first time ever, you'll be able to walk into the supermarket and buy a gift card for, say, $25 of Apple stock right off the rack. Buy it for yourself or as a gift for family and friends.”
With a thousand different stocks, ETFs, and ADRs to choose from, investors can buy or give the exact dollar amount they want. Stockpile allows customers to give via physical gift card or e-gift, allows users to redeem rewards points for stock, or turn existing gift cards into stock.
Once a stock is purchased or redeemed via gift card, the stockholder receives a fractional share of the stock in a real brokerage account that will go up and down with the market. Stockholders can hold on to the stock and track its progress, buy more of the stock or other stocks, or cash out of the stock by selling it whenever they want.
"Stockpile is partnering with companies and nonprofits who care about financial literacy and empowerment and want to make stock and ETFs accessible to everyone," said Dan Schatt, Chief Commercial Officer at Stockpile. "Local credit unions to Fortune 500 companies are leveraging Stockpile's platform -- whether it's to offer a brand new set of gifting services, a differentiated loyalty program, or an innovative employee incentives and recognition plan. They also get a new way to communicate more personally with their retail shareholders."
Stockpile, which recently secured $15 million in funding, is backed by an all-star team of advisors, including Don Kingsborough (founder and former CEO of Blackhawk Network) and Melanie Healey and (former President of North America for Procter & Gamble), and notable investors, such as Ashton Kutcher (actor, entrepreneur and tech investor).
"Stockpile will dramatically change the way we purchase and gift stock in this country," said Ashton Kutcher, actor, entrepreneur and tech investor. "Stockpile has nailed it -- it's a drop-dead easy user experience and affordable to all."
How Stockpile is revolutionizing access to the stock market:
· Buy it by the dollar. Buy any dollar amount of stock for yourself, or give any amount up to $1000 as a gift.
· Get fractional shares of real stock. If you redeem a $50 gift card and Disney is trading at $100 a share, you get half a share.
· Purchase in 2 minutes. Use a credit or debit card to purchase Stockpile gift cards atStockpile.com or download the iPhone app.
· Buy them in stores. Stockpile gift cards are available nationwide in select supermarkets and retail chains.
· Any age. Even kids and teens can own stock with an adult on the account with them.
· Free switching. Gift card recipients can redeem their Stockpile gift card for the stock on the card, a different stock, or even a merchant gift card.
About Stockpile: Stockpile is revolutionizing the investment world by making the purchase of stock as easy as buying a gallon of milk. Stockpile gift cards -- now available at grocery stores and retailers in addition to financial institutions and online -- can be redeemed for stock in your favorite companies. Buy them for yourself or give them to friends and family of any age, with no account minimum. Founded and headquartered in Palo Alto, Calif., Stockpile promotes financial inclusion, empowerment, and literacy by enabling access for all to the financial markets. To learn more about this convenient and delightful way to invest, visit www.stockpile.com.
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