Zvi Schreiber

So although it may sound like we have 15% of the market, by volume we have 30%.

And by the way, those are closely related.

You know, the reason you're quite right, this combination of a SaaS-enabled marketplace is a model which people are pursuing.

And they're doing that because it helps to solve the whole chicken and egg problem.

problem of the marketplace.

So in our case, and you referenced this before correctly, Nathan, by selling SaaS to the sellers in the marketplace, we were able to engage with the sellers even before we had liquidity in the marketplace.

The sell side, actually.

The sell side, okay.

Because the freight forwarders are typically selling.

So in our case, a lot of companies use this strategy to engage the buy side, but we actually used SaaS to engage the sell side

and have the freight forwarders ready to sell on our marketplace when we launched it.

In terms of revenue, so SaaS is still, well, what we do in marketplaces, we have our gross bookings or our GMV.

We don't book that as revenue.

We book only the net.

So if you look at the gross, then the marketplace is a lot bigger.

No, no, just net.

Net SaaS is still bigger than marketplace in terms of our net revenue.

Yeah, a little more than 20% now.

Okay, fair enough.

The marketplace is growing faster.