Schreiber is the CEO of Freightos, a 160-people strong global company that's raised about $50 million and is working on disrupting the freight industry.
Freightos has more data on global shipping than anyone else, and can offer some insights on this industry and the interplay between retail, data, and events such as Amazon Prime Day (APD).
By all measures, freight is big business. It's total worth is estimated at $30 billion per year. It employs countless people and affects practically everyone. The fact that getting a quote for a shipment would typically take over three days in this day and age is mind boggling.
If you want to fly for example, you just go online and you can compare prices and alternatives and book within minutes. It's been there for 20 years and it's a commodity by now. So, while it's clear that the opportunity for first mover to become the Expedia of freight is there, why nobody else did this before is not.
Schreiber points out that there were a couple of early attempts during the dot-com era, but like many at that time, they went bust when the bubble burst. Still, it's been a while -- how come there were no Freightos since? Schreiber believes it has to do with technological capacity, since the advent of cloud infrastructure makes collecting and processing data and running complex algorithms feasible.
At the recent user conference Infor shared metrics of their GT Nexus network - 18 years old, 100m shipments, $500b of trade transacted on the platform.
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