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Richard Braddock is really excited about social media and is hoping to capitalize on it in his latest venture, Joinem. The e-commerce platform relies on the power of liking, sharing and tweeting to get customers to buy the products they want through the site.
"The explosive arrival of social media is a marketer's dream," he said on CNBC's "Squawk Alley " on Thursday. "Never has there been a digital collection of consumers anywhere near this large."
Braddock, who's chairman of Joinem, is best known as having been CEO of Priceline and FreshDirect.
Joinem is essentially an online store that allows buyers to come together through social media and group buy a particular item. To get a better deal, the company buys directly from the factory or early stage vendor.
"So we are like Priceline, a virtual company between a vendor and a customer," he said. "I think we have a much firmer positioning ground than the prior efforts at group buying."
To compete with other e-commerce giants like Amazon, Braddock said that his company offers added perks for vendors.
"We offer real benefits to vendors because you are getting demand at your doorstep, getting the price you've chosen to fulfill, and you get tremendous data."