Classified by Freightos Limited
Pursuant to Rule 425 of the Securities Act of 1933
and deemed filed under Rule 14a-12 under the
Stock Exchange Act of 1934
Subject company: Gesher I Acquisition Corp.
Commission file No. 001-40897
Date: May 31, 2022
Freightos goes public…and how we got here
Zvi Schrieber, CEO, Freightos Group
Today, we’re thrilled to announce that (drum roll…) Freightos is going public! The official announcement is here. This is an exciting step that accelerates our vision for a digital platform that modernizes international freight and improves global trade.
First, a little background.
I launched Freightos ten years ago, in 2012. Why? Because I believe global trade is important. Really important. I can walk into a local store and buy products from around the world.
It’s not just about consumption; it is inspiring to think that by buying an imported product, we contribute, in a very small way, to providing jobs for people on our planet, often in developing countries. Global trade is an important part of how the modern world works, both in terms of consumer choice and job creation.
There is no doubt that trade sustains peace. The evidence shows that when countries trade with each other, they are less likely to go to war. Trade cannot guarantee peace, but it certainly helps. It increases interaction and understanding between different nations and creates an economic incentive to maintain peaceful relations. It is no coincidence that global trade has exploded in the 75+ years since World War II. It should be remembered that despite the tragic events we see in the headlines, overall these are the most peaceful 75 years of history.
But it still doesn’t work
Global trade rests on a foundation of global shipping. And while outsiders might assume it works like a Swiss clock, the foundations are surprisingly shaky.
In the two years before Freightos was founded, I witnessed, as CEO of a company called Lightech, how international shipping is offline, opaque and inefficient, adding cost and uncertainty to cross-border trade. We paid the price for inefficient shipping, both in direct costs, and in the cost of maintaining buffer inventory to cover any unpredictability. We passed that cost on to the fixture manufacturers, who no doubt passed those costs on to consumers.
While passenger travel went digital, the more complex “journey” of goods remained offline with multiple layers of intermediaries communicating manually. 90% of the goods are imported and each imported product carries what could be called an offline shipping tax. If there was ever an industry that needed a digital revolution, it is international shipping, whether by sea, air or land.