Maayan Adam, founder of Mami: "I was offered 300 million shekels, but I'm not here to sell"
When Maayan Adam started the "Mami" club with a personal investment of 700,000 shekels, many brands were skeptical of her unconventional methods. Today, two and a half years later, the club has 400,000 members, its own credit card with 20,000 customers, and comprehensive operations spanning real estate and vehicles. CEO Ofir Yosef notes: "We are not looking for an investor, but we are open to interesting offers."
The offices of Maayan Adam's "Mami" in Ramat HaHayal, Wednesday, early afternoon. A showroom with a huge bed upholstered with pillows sits next to a space designed as a children's room. In a third room, a campaign shoot for sex toys is underway.
Adam observes the empire she built, sitting in a sunlit office next to CEO Ofir Yosef. A month ago, they launched a credit card in collaboration with Isracard, which saw over 11,000 issuances in the first 24 hours. Today, that number stands at 20,000, out of 400,000 club members.
Mami, established two and a half years ago as a "consumer club," has evolved into a platform combining social media, commerce, fintech, insurance, and credit. "Mami was never just a consumer club," Adam says. "It's a concept we used to explain our work gradually. We are still in the setup phase."
"I realized that I am a consumer force"
Mami's journey began with Adam's Instagram popularity. "I found a stage there for important issues like fertility preservation and political topics," she explains. "Then companies started approaching me. I went live with a deal, and Super-Pharm shelves were cleared out. I realized I possessed real consumer power."
Trust became the critical issue. Adam admits that early Instagram-only operations had gaps: "There was no customer service, promotions were too short, and I lacked data on customer preferences. I wanted a platform with transparency and clear rules. Mami is a commercial business where the customer understands they are participating in a consumer event."
Adam also changed the rules for brands: "The demand for exclusivity drove me crazy. I told brands: 'Friends, that's over. A different cream will appear here every day, and each customer will choose based on their budget and brand affinity.' It was an earthquake, but eventually, brands accepted the new reality."
"We said 'no' to suppliers"
Adam launched the club in February 2024 without external investment, using 700,000 shekels of her own savings. "The whole point of consumerism is that everything has a discount. Mami finds the most profitable time to purchase," she explains.
In October, Ofir Yosef, former CEO of the search engine easy, joined the team. With him came a focus on technology: the staff grew from 7 to 40, with 65 expected by year-end.
"For me, the customer is the one buying, not the supplier paying," Yosef explains the business rationale. "We turn down suppliers if we don't believe in the product. Mami is a house with many layers: from the 'Mami Plus' subscription to the 'Mami-Money' virtual currency and our own tech infrastructure."
"The market is straightening out"
Addressing criticism regarding variety and accumulation accuracy, Adam is firm: "When we launch a product, the market pauses, then straightens out. 20 super-brands like Delta, Yaacobi, and Sonol have already joined our accumulation system. Our customers are thrilled."
As for the future, Adam doesn't rule out an IPO: "I love the idea that one day our customers could own Mami shares. As for selling, I've been offered three times the amount, but I'm not here for the money. I have a mission, and I'm not stepping aside."
Yosef adds that the value of transactions through the club, including real estate and vehicles, exceeds 500 million shekels. "We aren't looking for an investor, but we will examine interesting offers. Since we grow through our own profits, we can afford to choose partners who value social change over mere greed," Adam concludes.
