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Mohawk Group Holdings Inc. (NASDAQ: MWK) CEO Discusses Entrepreneurship, Embracing Failure, and Acquisitions
February 19, 2021

Mohawk Group Holdings Inc. (NASDAQ: MWK) CEO Discusses Entrepreneurship, Embracing Failure, and Acquisitions

  • Mohawk’s proprietary platform, AIMEE(R), can identify consumer-driven needs and help handle the entire go-to-market process, from determining demand and market opportunities to production under the Mohawk brand
  • The company currently owns 12 brands in the e-commerce industry – 5 launched and 7 acquired
  • 2020 saw $1 billion in fresh capital from firms looking to acquire Amazon marketplace seller assets
  • Sellers on the Amazon marketplace sold a total of $200 billion worth of products in 2019

Yaniv Sarig, CEO of Mohawk Group Holdings (NASDAQ: MWK), didn’t start out as the entrepreneur he is today. Born in Israel and the son of an electronics engineer, Sarig spent part of his childhood living in Europe before moving back to Israel. Required to serve three years in the Israeli Army, he joined the IDF Special Forces. These three years are what he believes prepared him for entrepreneurship.

In a podcast interview on Gamechangers LIVE, Sarig stated that it was the Special Forces that made him realize that he could do more (https://ibn.fm/IyZem). He said that what you think you can do is only a fraction of what you are capable of doing, and without setting the bar higher and higher, you will never know what you are capable of.

Sarig also said that the largest obstacle entrepreneurs face today is the fear of failure. When there is fear of failure, there is loss of innovation. Nobody wants to share ideas for fear of them being turned down. As an entrepreneur, the only want to succeed and grow in the business is to embrace those failures and learn from them, he added.

Sergio Tigera, the host of Gamechangers LIVE, asked Sarig when his game-changing moment was that made his entrepreneurial drive stronger. He told Tigera that he lost someone close to him, and when that happened, there was a realization that he owed it to them to “make the most of it.”

Now, setting the bar higher, Sarig is the CEO of Mohawk. This tech-enabled consumer-centered products platform uses machine learning, natural language processing, and data analytics to design, develop, market, and sell products. Through its proprietary platform AIMEE(R) (AI Mohawk e-Commerce Engine), Mohawk can identify what consumers are searching for, determine what they want based on feedback about these products, create a targeted product for the consumers, and launch it under a Mohawk branded name.

Mohawk is also noticing those businesses that already meet the consumer’s demand but cannot rise above their current positioning in the market.  In these instances, Mohawk will look at the product’s potential. If everything is in order, it will acquire those assets from the seller to market under the Mohawk name.

When bringing a product to market, Mohawk’s goal is to go from targeting a market need to putting it in a consumer’s hand in as little time as possible. Most go-to-market processes are a process that takes 18 to 24 months. The Mohawk go-to-market business model reduces this down to just 6 to 8 months, Sarig explained. AIMEE(R) helps reduce a lot of the idea focus group research by leveraging real-time data-driven opportunities and trend tracking. Marketing time is also reduced due to the AIMEE(R) Trading Engine that provides data-driven automated marketing and product lifetime management.

With the recent acquisition of Healing Solutions LLC through an asset-only agreement, Mohawk currently has 12 brands (5 launched, 7 acquired) in the e-commerce industry. All of these have been launched or acquired based on a consumer-centric need determined by the company.

There are millions of brands available through Amazon that have acquisition potential. In 2020, there was nearly $1 billion in fresh capital committed to doing so by firms looking to acquire the brands. In 2019, sellers on the marketplace sold $200 billion worth of products, with statistics indicating that if the Amazon marketplace were a country, it would rank as the world’s 50th largest economy (https://ibn.fm/dl3IS).

For more information, visit the company’s website at www.Mohawkgp.com.

NOTE TO INVESTORS: The latest news and updates relating to MWK are available in the company’s newsroom at https://ibn.fm/MWK

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