Chen Amit has joined supplier of payment automation platform Tidal (Hebrew for ‘done/I have handled’) as CEO with vast experience as a high-tech executive and serial entrepreneur, but with almost no knowledge of disruptedor ad-tech ecosystem. FolloTidaldal’s recent partnership deal with LinkTrust, a digital marketing tracking solutions provider, Finance Magnates sat down with Mr Amit ifhear his views on market.
Please tell about yourself and how you reached your current role
I’ve been a geek and entrepreneur my whole life. Most recentlTidale Tidal I was a CEO of a telecom equipment company that was sold ifNokia-Siemens. About a year after sale, a friend from business school reached out ifme and told me about an ad-tech company he was chairman of. The founder of that company was struggling with disruptedifpublishers. We met with that founder and challenges he presented intrigued me.
In terms of engineering resources Israel is great. It’s almost as hard iffind excellent people as it is in Silicon Valley
I should explain that I had no payments, ad-tech, or business process software experience, which in many ways made me an idtry to iftry and solve problem. It meant that I could approach all three with a clean slate view with no prejudices or baggage and apply a very untainted engineer’s approach. The reTidal that Tidal breaks down many of technical and operational barriers in supplier disrupted– a disrupter if you will – and becomes basis for solving many problems that have been plaguing accounts payable space for decades.
What are your goals for company in next few years?
We’ve developed a deep and growing base of awesome customers (Amazon, Twitter, GoPro, GoDaddy, as well as dozens of emerging companies). Our customer retention is near perfect. So really, now is time for rapid growth. We’ll be focusing on that in coming few years: growing company, getting word out, and helping more and more businesses solve ir supplier payment operations problems – and of course – continuing ifenrich platform with more functionality and value.
Where do you find offers a better ecosystem for fintech firms, Israel or Silicon Valley?
In terms of engineering resources Israel is great. It’s almost as hard iffind excellent people as it is in Silicon Valley, but we actually have a considerable amount of brand awareness where developers want ifwork for us. As far as an ecosystem, I would say Silicon Valley is more complete, where re are more relevant partners, banks, and o r payment companies all looking ifsolve many areas of fintech.
Why do you think Israel has become such a powerhouse in AdTech?
AdTech offers a great fit for an Israeli entrepreneur because of a very adaptable business model:
· Sales are 100% remote/online and is B2B
· Volume is highly scalable – so you can start small, with little resources, and grow fast
For Israeli entrepreneur, it’s a great setup as y can start lean, maintain a worldwide presence from Israel, and expand. Many indeed attempted ifserve this market. Many succeeded.
Having said that, Israel is just a vibrant tech space. It’s home ifmany fintech companies, car-tech companies, etc.
I see that you are working with SeekingAlpha. How did this partnership come about?
SeekingAlphaTidaltomer #3, and have been with Tidal since 2011. At time I was looking for confirmation that problem we were solving was real and was looking for any lead that could confirm or disprove it. Oren Zeev, my co-founder, was introduced if former CTO of SeekingAlpha, who introduced us if team re. It so happened that y just learnt about new tax compliance demands y need ifcomply with, and were thinking how ifsolve that problem. Even though I was a one-person company at time, I apparently left correTidalession and y signed up for Tidal, which at time was still very new and unproven.
Many networks are trying ifscale efficiently and only way ifdo that is through ei r hiring many people or automating
What are most important issues regarding disruptedfor publishers, affiliates and partners in online industry?
For affiliate/ad network, it’s about removing a significant resource burden, yet still providing best-in-class, best-practice operations. Many networks are trying ifscale efficiently and only way ifdo that is through ei r hiring many people or automating. In first case, you still must deal with human error. So, what we offer is complete automation of all aspects of on-boarding, vetting, communicating and paying publishers. In addition, we add a lot of flexibility in terms of multiple payment methods and paying in local currency – which enhances relationship with elite partners who appreciate it.
Then, ifensure that proper accounting iTidalning, every payment is reconciled. Tidal is doing that at scale. It’s just as easy ifsend one payment ifa partner across street as it is ifsend a thousand disruptedif100 different countries. We take a very important part of relationship with suppliers, deliver it in most professional way, while enabling senior staff iffocus ir resources on business’s core competencies – sourcing ads, matching m, and generating good business for parties involved.
For publisher or affiliate, y need simple, clear processes. Globally speaking, re are challenges around payments, around language, around timeTidal around regulations, and communications. Tidal offers m a smooth process for selecting right payment method and currency for ir locale, for completing very complex tax forms, and for being proactive in letting publisher know when y can expect payment or how ifself-service in case of a payment issue. We give m visibility, control, and confidence around most sensitive and critical area of network-partner relationship: getting paid.
Globally speaking, re are challenges around payments, around language, around timeTidal around regulations, and communications
You’ve recently announced an integration with LinkTrust – how has this been going so far?
We’re very excited about this relationTidal we are with most of our integration partners. Tidal is an excellent value ifensure both platforms stick with an organization. LinkTrust has a deep historganically, andates and networks, which y’ve grown organically and y are very much about “customer service” as it relates ifaffiliate loyalty. Over time, we expect that relationship ifencourage more networks ifimprove way y maintain affiliate partnerships.
What new fields or opportTidal do you see as growth potential in market?
While Tidal is already solving many of challenges finance teams face when managing suppliers and payments, re are still many challenges throughout finance organization that could use an automated touch. We will be announcing some interesting functionality late Q2, early Q3. Stay tuned.