[eCommerce & Israel Business Series] How Getida Recovers Millions for Sellers With Yoni Mazor

Yoni Mazor is the Chief Growth Officer at Getida, a company dedicated to maximizing profits for sellers through effective FBA reimbursements. With a wealth of knowledge in navigating Amazon’s complex reimbursement processes, Yoni and his team at Getida employ a data-driven approach to identify and rectify inventory and financial discrepancies for Amazon sellers. Before co-founding Getida, Yoni launched and grew an Amazon FBA venture to $20 million in annual revenue, highlighting his profound grasp of the e-commerce sector. Yoni’s blend of military intelligence expertise from the IDF and entrepreneurial accomplishments affords him a unique outlook on growth, strategy, and resilience in the competitive world of e-commerce.

Here’s a glimpse of what you’ll learn:

• [0:27] Insights on building a $20M Amazon FBA business
• [7:20] Why Getida chose a success-fee pricing model
• [14:22] Recommendations for e-commerce seller groups and resources
• [22:43] The value of networking and utilizing fellow employees’ unique strengths
• [32:30] Establishing a valuation for a company with regard to investing
• [39:30] Yoni Mazor discusses being an American born abroad
• [47:37] Foreign affairs and common misconceptions about Israel in the US

In this episode…

Navigating the intricate landscape of e-commerce, especially on platforms like Amazon, often leaves sellers grappling with financial and inventory discrepancies. These errors can significantly erode profits, yet identifying and recovering these funds is daunting and complex. How can businesses ensure they are not leaving money on the table due to these oversights?

Yoni Mazor, Co-founder and Chief Growth Officer of Getida, shares his expert strategies for addressing these common e-commerce challenges. By employing a “no success, no fee” pricing model, Getida ensures clients only pay for the service when they successfully recover discrepancies. Yoni emphasizes advanced discrepancy analytics to identify financial inconsistencies and the importance of having a dedicated team manage the recovery process, ensuring that clients can focus on their core business activities without the hassle of financial micromanagement.

In this episode of Inspired Insider Podcast, Dr. Jeremy Weisz interviews Yoni Mazor, Chief Growth Officer at Getida, about maximizing Amazon FBA reimbursements through innovative discrepancy analytics and client-centered service structures. They also discuss cutting-edge tools for Amazon sellers, compelling customer follow-up tools, and strategies for building long-term client relationships. These insights are invaluable for any e-commerce business looking to optimize operations and safeguard revenues.

Resources mentioned in this episode:

• Dr. Jeremy Weisz on LinkedIn
• Rise25
• Yoni Mazor on LinkedIn
• Getida
• Nick Penev on LinkedIn
• Max Borin on LinkedIn
• Eytan Wiener on Linkedin
• SmartScout
• Hellotax
• Sellers Summit

Related episode(s):

• “How the Coronavirus Crisis Is Affecting Amazon Sellers” on Inspired Insider Podcast
• “[One Question] Tips to Increase Sales with Chad Rubin Co-Founder of Skubana” on Inspired Insider Podcast

Quotable Moments: 

• “The number one thing in my life is relationships. I’m always looking for ways to give to my best relationships.”
• “We only charge a fee based on recovery. It’s free to join, it’s free to stay.” 
• “My mission, when we wake up in the morning… is to make sure that FBA sellers get the maximum FBA reimbursements that they’re eligible to receive.”

Episode Transcript

Intro 0:01

Got the game out on the beach and got a beer and made 100 grand. You are listening to Inspired Insider with your host, Dr. Jeremy Weisz.

Dr. Jeremy Weisz 0:22

Dr. Jeremy Weiss here founder of inspiredinsider.com where I talk with inspirational entrepreneurs and leaders today is no different. I have Yoni Mazor from Getida. And the only before I formally introduce you I always like to point out other episodes people should check out of the podcast and this is part of my e-commerce series also my top Israel business leader series. But some of the people that on James Thompson, who you know, founded prosper show founded, you know, agency founded other companies as well. That was really interesting. Chad Rubin, who actually had Skubana Sold Skubana runs prophecy now. Who are some of your favorites in the e-commerce space? Yoni?

Yoni Mazor 1:04

Oh, you’re putting me on the spot. Some of the greats Scott needs him as I like, I like his work. I don’t know if he has a podcast. I also think it’s called the smartest seller in the room. And he has a software company called What’s the call? They use it all the time? It eludes me now. It’s SmartScout. Yeah, that’s the name. Cool. And then a time, a time winner? Yeah, I mean, not only that, I look up to him, he’s my partner, my business partner and I, you know, I engage with him daily. So definitely a time winner for sure.

Dr. Jeremy Weisz 1:37

We’ll talk about how that came about because that was interesting, because he sold his company and then started working with you. So check out those many more on inspiredinsider.com. This episode is brought to you by Rise25 at Rise25. We help businesses give to and connect to your dream 100 relationships. And how do we do that? We do that by helping you run your podcast, we’re an easy button for a company to launch and run a podcast. You don’t need to do this strategy, the accountability, the full execution, we call ourselves kind of the magic elves that work in the background to make it look easy. So you and your team can focus on what you do best, running your business and building amazing relationships. 

And we do the rest. So, you know, for me, the only number one thing in my life is relationships. And I’m always looking for ways to give to my best relationships. And I found no better way over the past decade to profile the people and companies I most admire and share with the world what they’re working on. So if you’ve thought about podcasting, you should have questions? Go to rise25.com. To learn more. It’s really James and I connected because I had him on the podcast, we became James Thompson became fast friends and then did work together. You know, it was great. So check it out.

Yoni Mazor 2:48

I am excited about that one thing for people who want to build a podcast or launch a podcast. Take it from me, I am sure you can also take it from Dr. Jeremy here. It’s healing. There’s something healing about having a stage for a guest and letting them air it out and having these engagements is something therapeutic for them. therapeutic for you. So there’s another extra value there that I don’t think was spoken much about, but it’s definitely there. 

Dr. Jeremy Weisz 3:12

I totally love it. And you know, it’s funny, we met. We were reintroduced by Nick pen who runs partnerships for Hellotax and other companies and runs scale, which is a software. So thanks, Nick. But actually, I just kept bumping into Max, your Co-founder over and over at his ecommerce conferences. I’m like who is this ball of energy? He literally is at every conference way back when and so I love Max and your team. But formally introducing you. Yoni Miles was the chief growth officer and Co-founder of Getida. And Yoni develops Getida after successfully founding and operating a $20 million year Amazon FBA business and they sold a bunch of things. I mean, they even started on eBay selling watches going from store to store collecting watches, or like actually going to merchants selling their inventory on eBay for them. 

And so he goes way back, and they sell fashion brands internationally and everything like that. But what the Tiesta does is it specializes in Amazon discrepancy analytics and consulting. Okay, so what that means is they discover and manage financial and inventory related discrepancies in someone’s Amazon account. Very simple, what you should have been paid for. That you weren’t paid for. They get paid for. And they’ve been one of the best value propositions I’ve heard because I remember what I met Max. I’m like, Max, like, you’re gonna sell this service like hotcakes because it’s so simple. It’s so easy. We will get you your money back. Or you don’t pay us and if we do, we get paid a percentage of it. So it’s way back.

Yoni Mazor 4:54

Yeah, this is like 2017 2018 This is like prehistoric e-commerce. industry Yeah, Max, I want to mention it’s Max Boring. Last Name b o r is a shout out to Max, you guys Wow, you really put me to a throwback because he hasn’t been out in events for a while, a long while. Yeah, for the past three, four years, we kind of shifted roles. It’s been interesting. We could talk about that later. But um, that today, more out there and he’s more in the cave, managing the product and the actual back in terms like.

Dr. Jeremy Weisz 5:21

I feel like he was the face and you were nowhere to be found. Now it’s flipped. Yes. And also the other thing is like, you gotta actually, there’s 10s of billions of dollars of transactions managed daily, by gotta to find these discrepancies. And so like you’re mentioning, since 2015, Katina has actually scaled to one of the largest, if not the largest organization in the world dedicated to Amazon FBA auditing. They have more than 240 employees in 12 countries. They’re also backed by strategic investment by private equity firm, otoo Investment Partners, and you only we’ll get into a little bit. You come from military intelligence experience, and you even served in the IDF special Navy intelligence. So thanks for joining me.

Yoni Mazor 6:09

My pleasure. Thank you for having the ambled. 

Dr. Jeremy Weisz 6:13

Let’s just, What will I want to talk about the role shift? But I’m gonna try and do the simple value proposition and let me know you can correct me if I’m wrong here, okay. Like, let us reengage you reimburse for the things you should and that could include inventory discrepancies. That could include fee discrepancies. And by the way, you can go back I think 18 months, so if you’ve not done it, contact your Tita if you’re an Amazon account, and let them do this for you. Because they’ll find a lot of unfound money and the value proposition is simple, which is they get 25% in right now, maybe if you listen to us in five years, maybe it’s 30%. Maybe it’s 40%. And right now it’s 25%. So there’s no risk. They go in, they see what they could find. You get money back, and they get 25%. Is that accurate? 100%?

Yoni Mazor 7:11

Yeah, you’re hired. You’re ready to go? Roll? 

Dr. Jeremy Weisz 7:15

Yeah. It’s so simple. So talk about because you could have charged a lot of different ways early on. And why did you decide that? Was the pricing structure that time because I didn’t? I didn’t hear anyone else doing that, at least at that time.

Yoni Mazor 7:29

Got it. So it’s you, man, you taking me back and taking me back? It’s good. It’s therapeutic Africa, kind of air out all these components. Okay, so let’s just start a bit on evolution. Okay. Tierra. And when I told you that, well, I guess to understand the structure that we have in history, we actually have Personally, myself a max actually more Max aside why this came to be. So over a decade ago, we started selling products online, you know, we had a website, we had eBay. And then in 2013, we started selling on Amazon, and the business grew very quickly from zero to 20 million to 100 million. And what happened was, we had all these transactions to reconcile, and so much data to reconcile, we’re not able to use spreadsheets anymore. They’re simply breaking, right, so too much data. So that kind of pushed us as an organization to, to solve this issue by creating two things. 

One thing was to create technology and software that can audit all the transactions on a massive scale. And the second thing was to create a dedicated team that its sole mission is handling all the claims, right, managing all the back and forth with Amazon and getting all the reimbursements. So effectively, we created the solution for ourselves. And it worked great. Then what happened was, we’re pretty friendly people. And then we told our friends from the industry, we had these capabilities. So they told us, help us, we’ll pay you. And that was kind of the early genesis of Getida back in 2015. Now, here’s the tours. I don’t think I ever mentioned it anywhere. What happens is Max actually used to have a friend when he was growing up . Actually, I guess a childhood friend, that their family was, I guess, a pioneer in the industry of auditing for FedEx ups for carriers. And then that industry, they had a recovery success fee model that we simply adopted Max, so you still work for that company. And then you know, they found great success. 

And so we call this kind of a cousin industry actually, the carriers if we like to use UPS FedEx to ship a pallet overnight, and they come in three days later, and you pay $3,000 Guess what, they actually have to pay back $3,000 because they haven’t fulfilled their overnight promise. So Max had a history in that environment. We just adopted that. And that’s it. That was kind of we had some, I guess, some clue or or thread, but you know, some sort of a modeling for this. So we did it. And over the years, we’ve just grown kind of organically. We didn’t, you know, focus too much on bacteria for the first I would say three or four years and it was there. We’re just growing organically because the value proposition was so simple and clear. So as its own trajectory, but we’re definitely heavily still focused on the retail side of things. You know, we’re doing kind of a pretty crazy volume. was, and then you know, and around 2010, we made a strategic decision to cash at a retail store, and take all the profits we made, and plus all of our energy and motivation, creativity and energy into one place, which was a good theater and really helping sellers. And the moment we kind of did that.

And we detached from retail, we kind of took leadership on the niche. And today we’re the largest organization in the world, at least by body count, maybe even transaction audited, that’s committed just for this. We don’t have any other solutions. We don’t solve inventory management, we don’t solve repricing or advertising. This is where we begin. This is where we kind of end. So yeah, and in a nutshell, that was kind of the evolution or why we chose the success, or, you know, recovery fee model. Yeah, I love it.

Dr. Jeremy Weisz 10:47

And if you’re listening to the audio, there will be a video piece of this. And we’re looking at Getida’s website here, which is getida.com. And so you’ll just see some of the things on the screen about you know, how it works, their dashboard and everything like that. And then you know the reimbursements. So that’s kind of where the mod, the pricing model came from, where you decide to just charge a percentage of what you collect.

Yoni Mazor 11:15

Right? Yep, that’s right. So it’s a recovery fee only for successful recovery funds that were simply never never available before. Only then we get rewarded, just like that. If we put all this effort, we open cases and nothing happens and you get zero, you pay zero. So the way we dub it is it’s free to join. It’s free to stay. You only charge a fee, based on recovery kind of rhymes. 

Dr. Jeremy Weisz 11:38

How Do you decide on how much to charge?

Yoni Mazor 11:42

So on the pricing levels, there’s really three structures when you join. And if you do up to 10 million in revenue, which is the overwhelming majority of the industry, you know, it’s a classic 25%. That’s not just us, probably with other providers, that’s kind of the baseline. That’s what number one check number is, if you do over 10 million a year and revenue and EBIT revenue, we have a large volume seller discount, where instead of 25% is 20%. Okay. And once again, these two first tracks have no strings attached, meaning you can cancel anytime, no problem at all, all good. The third option is that you like us, you want to stay with us long term, we could do a two year upgrade agreement. And really based on your volume and how much work there it’s involved, we can go lower than 20%. So that’s, you know, in a nutshell, kind of the three options. 

And the most important thing for us is to make sure that whoever’s partnering with us, then send the value proposition, they really recognize that without our help, they will never be able to get those funds, because I’m not going to push us to our mission for a moment. Our mission when we wake up in the morning as a whole organization is pretty clear and simple to us is to make sure that FBA sellers get the maximum FBA reimbursements that they’re eligible to receive. And we fulfill this mission in three ways. The first way is education. We just go out there and educate and train sellers, FBA sellers, how to get it themselves. In other words, there’s 10s of millions of dollars that have been recovered by sellers already that they do it themselves, because we gave them the farm, right, and we did not make a penny and that’s all good. We’re fulfilling our mission, which is to help sellers get the maximum. The second option is that just you know, join us and we do everything for them. So we people that mission, the third option is actually together, meaning they would what we taught them are from other resources, they’re able to get everything that they can get on their own. 

Even if there were other providers, we are agnostic. In other words, we’re encouraged ourselves to get everything they can get on their own or, or even with other providers. But then we can come in and run an audit and anything that they’re missing on for whatever reason, we can recover. And all if we’re successful, we get rewarded. So it’s always a win-win. Because whatever is yours, it’s yours. We don’t want a piece of it, whatever is now yours and you can get we’re happy to partner with you, get it for you, and only if we’re successful, only things get rewarded. So the moment sellers really understand these alarms and these options, and they settle on the tracking course that they’re comfortable with, then we find that we have a really, really long term relationship with them, you know, some of them are already eight years old.

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