Zvi Schreiber

and California.

So you're paying for the port handling and then you're paying for a train or a truck to get it all the way to the destination.

So it's the totality of all of that.

So probably the ocean shipping and also the airlines as well are the biggest cost because some of the more urgent stuff is going by air.

So the ocean and air are probably the biggest cost components, but there's a lot of other cost components as well.

Oh, I could look that up for you.

It's in the millions, but I don't remember the number off the top of my head.

Yes.

Believe it or not, this big industry is very inefficient.

And in the end, we all pay for that, because when you buy an imported item, and most of what we buy is imported, you're paying a little bit extra for the inefficient shipping.

So, believe it or not, when you call up a big freight forwarding company and you say, I want to bring a container

from Shanghai to wherever it is, Cincinnati or San Diego, you're going to wait an average of three days just for a price quote.

So even though this is done millions of times a year, it's still very manual.

Every single time people send an email to China, they look things up in Excels, and you're going to wait two, three, four days just for a price quote.

So, the industry is very much forgotten in the previous century.

Now, contrast that to if you want to travel to a different country, you go online, you go to Expedia, you go to Priceline, and within 20 seconds, you see all of the options, you book a ticket, and you're on your way.

And you've been able to buy a passenger ticket online for 20 years already.

But freight has still been completely offline.

So, you know, Freightos is really just being the kayak or the Expedia for freight.

We're giving the same experience that passengers have had.