Freightos is an online freight marketplace and SaaS software to usher the logistics industry into the digital era, making global shipping faster, more cost-effective and smoother. Simply put, like Expedia or Kayak for the shipping industry. With Investors including GE Ventures and the Singapore Exchange they raised $94.4 million. And currently have around 200 employees and six offices across the United States, Asia, and the Middle East.
Zvi Schreiber is a serial Internet entrepreneur. He founded Tradeum Inc. one of the pioneers of B2B E-Commerce, which achieved revenues of over US$100m. Later on founded Unicorn Inc., sold to IBM, and G.ho.st, sold to Infinity Fund. He also was CEO of clean-tech electronics company Lightech which he sold in 2011 to General Electric (GE) Lighting. He has a Ph.D. in Computer Science and he’s also the author of Fizz: Nothing Is as It Seems, which tells the history of physics as a novel.
Listen to the full discussion here:
Some of the highlights from the podcast:
- Automated pricing at a few clicks away – for freight? Does this really work?
- Transparency is inevitable – how do you work with this?
- Why selling online is better? You don’t need an army of people in nice suits playing golf with your client.
- Why Zvi works in an open space, not an office?
- What do to as an entrepreneur when you know most startups fail?
- 50% of all importers still use excel sheets – how does Freightos tackle that?
- [01:31] What threw you in the entrepreneurship bug? Does it run in the family?
- [03:02] How did you decide to found Freightos? How did you end up in the freight industry?
- [05:16] Considering that nearly 50% of all importers (47% to be exact) still use spreadsheets. How does Freightos address this issue?
- [09:10] There have been a few hurdles to get over. Forwarders have naturally been nervous about a potential downward pressure on rates that could come from an online booking service. How did you overcome these hurdles?
- [11:51] You said somewhere that the launch of other online platforms, such as Kuehne + Nagel’s – FreightNet – has also helped the industry move on. How do you see this movement?
- [14:04] Who is your main target customer and do you work with them? What are some examples you can give us?
- [17:14] How does Freightos ensure that all liners hosted on their website are just not competing on the price point but also giving the desired level of service to its customer?
- [19:07] The Singapore Exchange (SGX) has completed a US$44.4 million, Series C funding round for Freightos. Can you tell us more about how you plan to develop synchronicities between SGX and Freightos?
- [22:01] What are the biggest challenges that the company has when working in Europe and Asia? what are the differences in terms of standards and operations?
- [24:16] Where do you plan to expand next? Any focus areas you have in mind?
- [26:55] What do you focus on when hiring people at Freightos?
- [29:01] What are some of the elements that define the culture of Freightos?
- [30:34] How do you manage to attract the top talent – why do people choose your company and not others?
- [32:42] What were some of the lessons you learned so far as an entrepreneur? Key Takeaways.
- [34:19] Looking back at the Freightos story so far, what are the things that make you most proud of?
- [36:18] Tell us a bit more about the book – Fizz: Nothing Is as It Seems.