- Brennan Zelener
On April 16, Ward Johnsmeyer and I gave a webinar demo of Swappa's new B2B Exchange and WholeCell's integration with it for automatic inventory sync. We recorded the demo for your viewing pleasure:
Ward: Hello, hello. Thanks, everyone, for joining. We'll give it just a minute or two here to get started. Looks like we've got quite a few people on already, so that's great. We'll give it to like one after and then we'll get going here.
Brennan: Sounds good.
Ward: Hey, hey. Yeah. And we're going to use ... the chat works pretty well with this platform, this Demio platform. We'll kind of use that for Q&A and just questions and things. And please don't hesitate.
Oh, you're kind, Daniel. Thank you. Thank you so much.
Brennan: Thanks, Daniel.
Ward: Yeah. But we'll just use that, and we've got some folks that are taking notes at Twilio and we'll kind of keep that compiled out and then we'll get back to everybody. After the call, get out the presentation and things, and so we'll be good to go.
All right, well, let's just go ahead and kick it off. Just a quick introduction.
Hey, Jen. How are you doing?
I'm Ward Johnsmeyer, I lead business development for Swappa. And with me today is my friend, Brennan Zelener who is co-founder of WholeCell. So we appreciate you guys making the time for us.
I wanted to go through a lot of things that we've been doing together, but most specifically today is to talk about the B2B exchange that Swappa has recently launched and some integrations that we've built. So the integrations extend beyond the exchange, the exchange integration is really great and we'll show you that live and what it looks like. But we also have an integration that we'll touch on that is specific to the Swappa marketplace.
So anyway, with that I'm going to go ahead and kind of share some slides and we will walk through that. But the main piece today is going to be going through it, going through the demo.
So Brennan, keep me honest here, can you see my screen? Can you see the slide?
Brennan: I can't yet. I can't yet.
Ward: Oh, you can't yet, okay. Give it a second here to render.
Brennan: Hey, Feldon. Thanks, Jackson.
Ward: Starting to share.
Brennan: Nice, all right, we got your full screen now, Ward.
Ward: Okay, excellent, excellent. It just took a minute there.
Okay, what about now? Can you see me ... see it okay?
Brennan: Yeah. Can everybody see it? I can see it loud and clear.
Ward: Okay, we'll get rolling. All right, so again, talking about the Swappa B2B exchange and our integrations with WholeCell. And again, we'll use chat. We don't have an ability to turn on microphones and things, it'll be a little clunky. So, but the chat will be nice and efficient.
I just want to thank everybody for being here and making the time. So just a little bit of context, maybe not everybody's familiar with Swappa, maybe not everyone's familiar with WholeCell. But we're two different platforms in the mobile device industry. And Swappa, we're fixated on the marketplace side of things, where WholeCell is on the inventory management side and sort of a multi-channel solution as well. So just we wanted to come together and ...
Brennan: Oh, folks, did we lose, Ward? Ouch, all right. Well, Ward, we'll try and get you back on.
Does anybody have any questions in the meantime that I can kind of create some excitement with while we get Ward back? I'll go through our sidebar of chat. If anybody's got any questions about this that ... What am I drinking? I'm drinking some tea. Check out this tea right here.
So Gunner, WholeCell is a company that my partner Harry and I run and it's an inventory platform for kind of built directly for device sellers. And I think that we even have some folks that use WholeCell in the chat today, so you guys can talk about it as well, but we'll get to talking about how the integration works as long as Ward gets back on. If he doesn't get back on within the next few minutes I'll take over and I've got the same slide deck that he had, so I can start showing that to you guys.
But WholeCell is an inventory management platform that is specifically made for device sellers, and it specializes in serialized inventory. So where a lot of other inventory platforms they kind of let you add serialization to your existing inventory platform, the best part about WholeCell is you can add IMEIs right from the get go and you have basically a page for every single IMEI device in your inventory. And so you can track the history of managing that inventory and anything that you do to it. So in WholeCell it's a lot easier to track if you've unlocked a device or repaired a device or things that are particular to the world of device resellers that maybe don't apply if you're selling brand new products or t-shirts or things that are not quite as complicated as devices are.
And Daniel's helping me out with an explanation there. Yeah, we'll see, we'll see if we can get Ward back.
So good question, Jackson, and that's literally what we're going to talk about today. WholeCell is connected to Swappa, we've been building some integrations with them over the past six months or so and they just launched this really new thing, this B2B exchange which is a marketplace directed at people who are selling devices in volume, where Swappa's marketplace has traditionally been ...
Oh, we might have got Ward back. Yeah, Ward's back.
Ward: I don't know what happened, but of course, it happens during a demo, so ...
Brennan: Well, that Google fiber is not ... it's not ...
Ward: Yeah, I'm just bragging, I just got the 2 Gig fiber, but I guess it was being shy there. So, all right, so sorry about that, but we're back. What is WholeCell?
Brennan: Cool. Yeah, I was actually as you were gone, Ward, I was just giving kind of the briefing on this. So for anybody that has not interacted with WholeCell before and doesn't know what it is, I actually really appreciate it Daniel and Nate talking about what it does, but we're an inventory platform that's designated and built from the ground up for device resellers. So we kind of aim to solve the problems that device resellers have with traditional inventory systems that are designed more for SKU-based inventory that is where everything is the same.
So the big problem with devices is you sometimes have a device that changes its model or changes its carrier or gets repaired or gets unlocked, etcetera, and WholeCell is built around all the products having these kind of attributes that change and making it easy to do so. So you can kind of see our bulleted list there on the left, we specialize in having IMEI scanning, we're doing multi-channel marketplace sync, and that's what we've been focusing on a lot this year and what we're talking about with Swappa. So I'll have you hit the next slide, Ward.
Ward: Sure. There we go.
Brennan: Cool. So today we're talking about this integration that WholeCell has with Swappa. I kind of want to start off by saying thanks to the Swappa team, we've been able to work really close together on a marketplace an inventory integration that I think is it's unique to others that are out there because we've worked so closely together on this. And the idea here is if you keep your inventory information stored in WholeCell and you're tracking your inventory in WholeCell we've now made it really easy to export that inventory to Swappa to when whenever you have listings on Swappa that sell, it brings orders back into WholeCell and that happens automatically so you can fulfill them. And then once you fulfill and ship them the shipment information is sent back to Swappa.
So the goal is basically a seamless integration for all the things that matter from listing your inventory from your inventory system to the marketplace, and the information coming back from the marketplace to the inventory system.
Ah, thanks, Ward. And so today we're talking about the B2B integration, the B2B exchange integration. The B2B exchange Ward will talk about a little bit more what it is and why it's important, but to me it's a really exciting thing that is kind of ... it's a marketplace answer to stock lists. All Wholesalers are trying to get ... Wholesalers and just e-commerce sellers have stock lists at all times, and some people are using Google Sheets to manage them, other people are using other tools. We're really excited about what Swappa has built with the B2B exchange.
And WholeCell's integration to the B2B exchange is a new kind of integration that just automatically syncs your live stock list that you choose based on what you have available in your WholeCell account, and it constantly syncs with Swappa to keep your stock list on Swappa live. And that's it. How do you think, Ward, did I cover that?
Ward: Yeah, no, I think you did, yeah. Essentially it's just ... it's work to upload stock lists, to keep them fresh, it's just one more task every day. And what we really were excited about as it relates to this is just the fact that you could ... if you're maintaining your inventory and you're keeping that in WholeCell, you've got the ability to just say ... you can see over here on the right there's a lot of different options and things that you could decide on, but what particular attributes you want to automatically be displaying. And it doesn't mean that you have to sell them, it's just they're displaying and people can find them. And we know that a lot of buyers spend time trying to track down devices and oftentimes find stale listings and things that are no longer available, and so this tries to address that and we think in a pretty significant way.
So anything else, Brennan, you want to add to that before we move on?
Brennan: No, I think I guess the last thing that you brought up, Ward, that I wanted to mention is for folks that have not seen WholeCell before, one of the powerful things that it does that is really hard to do with like Google Sheets or other systems is we know that inventory sits in a range of statuses and so you have some inventory that's ready to sell, some inventory that's not ready to sell yet, etcetera. And what we allow you to do with the B2B exchange integration is choose which statuses and what groupings you want for the inventory that you want to sync with the integration and through to the B2B exchange.
So you get to have a lot more control, kind of you get to set the rules and then forget about it and then it integrates and syncs every day. So I think that's a huge advantage over some of the more basic ways that people manage inventory.
Ward: Yeah, I agree. So now the question is getting into the meat of it, what is the Swappa B2B exchange?
And so it's essentially another marketplace. Swappa many of you know we're a marketplace that's consumer-facing, obviously businesses are buying on there too but we've often had the question I'd like to buy in bulk or maybe it's an enterprise IT manager or whatever wanting, can I get 100 of whatever device it is, and it's just we were not equipped to handle those types of inquiries and those types of transactions.
The other thing is that we know repair shops are looking for stock often for their stores and various sales efforts that they have, and they may not want to come on and buy 100 of something. That's a big commitment in cash, and so we wanted to make sure we brought something where bulk buyers, repair shops and wholesaler alike could come in and find something that they need. And so that's what we set out to do and we're off to a good start.
We'll go through some of the ... we'll show you live what it looks like, but essentially buyers make offers and it obviously starts with stock items, stock lists, so sellers have those in and then buyers can come in and make offers. And the tooling is we've got quite a bit but at some point we'll continue to add to it and take feedback from the users. But it's $30 a month and we're giving two month free trials, so I'm happy to ... we'll get a link out for folks to sign up for that and take a look. But we'll get into some of the details, but at a high level this is what the kind of the home page for the exchange looks like, you can browse inventory, etcetera, and then join if you haven't.
So stock lists. So there's a couple different ways to do this, when you've uploaded stock you can see it come to light here, so we've got a handful of entries in different grades, details on the carrier, you can do some filtering here. We're piping in the pricing, some of the pricing data from the Swappa marketplace so that you can see what is that particular device going for, and we'll get more granular and more tuned in on this over time, but generally is there an opportunity relative to the sort of the retail marketplace. So that's part of it. And again, we'll get into it and show you live, it's a lot easier to look.
And then finally if you do find stock that you want, the next step in that process is to make an offer. And so here's an example of my friend Wes and his fictitious company Potent Potables, must be a jeopardy fan. And anyway, you can kind of see where it starts, you can go in and put the quantity, the length of time your offer is good for and just some details about that. And from there he can accept it or he can have back and forth and we can show that as well. So those are just at a high level what some of the screens look like, but seeing it live is probably the most effective thing. So we're going to move on to that.
So while I'm getting that set up, if there are any questions that people have come up with feel free to go ahead and put those in the chat. And we've got members of the Swappa team who are there as well to answer and then obviously Brennan and I will do the same. So let me go ahead and get this going.
Brennan: Yeah, this is cool guys. We're going to have a lot of good questions for the Q&A. I'm excited about that. And I love that Ben from Swappa is answering some of these questions.
Ward: Yeah, excellent.
Brennan: The market price thing, I'll just do one question because it's what's been asked most recently. No, Ben, go for it, keep doing it in the chat. That's great.
What data, Dave asks - what data drives the market price? And I believe, correct me if I'm wrong, Ward, but I believe that that's just driven from Swappa's kind of consumer to consumer marketplace, the standard marketplace, where you guys collect all pricing data.
Ward: Yeah, that's correct. And we feel pretty strongly about that data because it's reflecting a used retail price, not a trade-in value or something like that. And the extensive efforts that our moderation team goes to to screen out devices that are broken or blacklisted, things like that, that helps keep more pristine data set that we have confidence and we know where it came from and we know how it was calculated. And we'll do a lot more with the data side of things, we know it's really helpful and it's just good instructive information.
Brennan: Oh, no. Ward's fiber is really, really lacking on us. I'll talk about this a little bit guys and I think now that we've got some questions that you guys have seen kind of our slide deck presentation I can do some Q&A while we wait for Ward to come back and give a demo of walking through the app and how it actually looks.
What Ward is talking about there is literally my favorite part of the B2B exchange, is all of you that I'm assuming are on this webinar have seen lists of a chat in Whatsapp where you get stock lists by stock list by stock list and you just have ... you're just hammered and inundated all day with stock lists in Whatsapp, and the thing that I really like that we can do with ... that Swappa is doing with the B2B exchange and that WholeCell tries to do with pricing data and bringing that all together is the ability ...
Welcome back, Ward.
... the ability to show you the spread right there on the listing for the product. So we've got clean product catalogs and we've got tons of data behind these product catalogs that are synced to that product. So we can show you what is something selling for on Swappa which you kind of have a sense of how that relates to what price you're getting for it, if you're selling on Swappa or other channels. And what something's being sold for on the exchange, so they have the ability to show you the profit opportunity which I just think is so cool, I've never seen anything like that before. And I mean, this is V1, so it's going to keep getting better and keep getting more and more drilled in.
But at that, let's get you back to the demo, Ward.
Ward: Yeah, and I apologize guys, my internet's the one thing I can't force. So we're going for now.
So anyway, yeah, so I wanted to get into my demo account and show you some things. So we'll just kind of go through this in just a logical sequence, and if there's questions, I can't see the Q&A when I'm sharing my screen but Brennan just ping me if I need to change direction or what. But so anyway, this has got just demo data in it so take a look at it with a grain of salt.
But the first thing I'm going to do is go to my dashboard. And in my dashboard I can see a variety of things. We're working on some new features so you're seeing early stages of want to buy, want to sell, so that will be here. And then we've talked a lot about stock lists, so I just want to give you an example of that.
So I can go in and I can do a number of different things with stock, but this is kind of where it all begins. So I can either import with a sheet and so we've got a spreadsheet you can download. I can use WholeCell or I can add an item. And adding an item it works just fine and the team's done a good job building this, but it's not terribly efficient. So more than likely you're going to want to use a spreadsheet, but it's really a lot easier to use WholeCell.
So I've gone into my WholeCell account and I can even show you that just for fun. I've got my purchase orders in here and just created some. And I've made the status available and my settings in my WholeCell integration page had allowed if something's available then let's show it, and so that's kind of the behind the scenes there.
So I haven't yet ... I've just got a few things in here, so I'm just going to go ahead and bring my inventory in from WholeCell.
Brennan: Moment of truth.
Ward: Yeah, here we go. Oh, look at all that. So I didn't have to do anything, I've already ... I've set things up, I didn't have to manually pick and choose and that. I just I set my criteria very specifically, and so now here it all is ... that was really easy. And so it will just continue to maintain itself as I sell things on other channels and whatnot, it'll go do ... today we've got it I think once a day doing a sync, but could certainly get more aggressive with that as time goes on and as needs dictate.
But you can see how that was an easy way to do it and that would be probably the preferred way, but you could do another thing, you could certainly import a file. And so let me do that. So let's see here, I've got courtesy of Travis, I've got neat company here, so we're going to upload neat company's inventory. A little demo humor, very little.
So anyway, so you can see here's my import result, these are the items that came in. I had two rows that had some issues. I'm not exactly sure what that is, but I would just go get those manually added and I'll just go back to my stock list now.
So now I've got quite a bit, so I've got the pieces that I added just by hitting the WholeCell sync button and then I've also got the stock list that I imported. So hopefully that gives a decent idea of what it's like to use this, but these listings are all now live and out there and in the demo environment and will be able to be visible by buyers.
So I'm going to just pause there and go back to my dashboard. I want to go into offers next, but were there any questions on the stock list before we move on?
Brennan: I think that, yeah, we've got questions that have been kind of running through, Ward. And I think it probably makes sense, the most sense, to just finish the demo and then go through the list of questions we've got. If anybody has anything super pressing I guess we could leave it open for a second, but it seems like there are some general questions about what we talked about earlier and then some new ones, so I figured we'll get them all together.
Ward: Okay, so yeah, we'll do offers and we won't take a lot of time here, but so I got an offer yesterday from the one and only Potent Potables out of Stafford, Virginia and I accepted the offer, so it was for these T-mobile devices, it was for 18 of them. And so we had a little bit of back and forth, you can see here I accepted it, he appreciated my business and that.
And then from there it became an order, and so we want to get those order details and we want to keep them together in a nice consolidated way. And that was part of the motivation with this ... with the B2B exchange, is just have it all in one central place where you can reference it. And so anyway, again, kind of a restatement of the details, and then from there I had my shipping address in there so he could see that and understand where it's coming from.
And document-wise I could upload anything I want, invoice, PO, shipping labels, things of that sort. And so you can see I've just got a really basic test invoice in here. So I don't think anybody cares too much about that one, but you could do that and it's nice and handy to have it there.
He paid me through Stripe which is fine. As far as payments go we are doing some work too, we know a lot of folks are going to want to do wire transfers so we're doing some work with a highly reputable third party payment processor. And the reason that we have been kind of looking at that particular opportunity is we want you to have basically like next day or very, very, very quick wire transfer capability but also in a way that you're doing a verification and everything, you're making sure that you're set up. And so we want to help make sure you reduce any errors when you're transferring large amounts of money, so that'll be something.
We will also in terms of just other features and things that are coming, I mentioned want to buy, want to sell, probably pictures will be part of the want to buy, want to sell and we'll start working in images probably into the stock list as well. So those are things that are up on the horizon.
But then finally just to finish this, I put in the tracking information. And there it is, it should be ... it's on its way. So that's that. If we want to have more comments back and forth we can use this private order page and comment, there's multiple ways to do that. So in a nutshell, that's the way the order component works. And then you've got like a little messaging station here if you're getting messages just from different orders or what other communication that's kind of, you know, you've got a place there.
So Brennan, anything else we need to cover on this or do you feel like we've hit the finer points of the exchange? Maybe go to questions now.
Brennan: Yeah, I think we'll probably get some good spots in the Q&A. What I just wanted to add to what you said, Ward, I think it was a good covering, but the one thing that for folks that have done these deals and I've done them before myself where you're buying a lot of value of something over pretty shady communication sometimes, and if it's a new buyer that you're working with especially or a new seller you're trying to develop trust and you're trying to put all of the ... Ward, I don't know, I've got a ... you're trying to get all the information about a deal into one place, and sometimes, I mean, just like it really shakes me to my bones when you've got everything, you've got to search through a long text message thread to find the invoice, the payment receipt, somebody sending you a wire, a screenshot of a wire being sent, and there are all these different places that these things live.
And that's what I think is so cool about the B2B exchange is it's one place, the deals are still WholeCell deals, so you're making an offer, you're not paying a Paypal fee unless you really want to, you get some choice over what payment method you accept, but it's a collection point to bring all that information about the deal into one place so that it's pretty clear and it brings more transparency to the deal-making process. So I think that's what's really neat about it.
Ward: I agree. I'm looking here at the questions, let's see.
Brennan: Yeah, let's see some Q&A.
Ward: Yeah, there's quite a bit. So is the shipping done through ship station integration? Not yet today, it's not, but we're working on kind of the ... Brennan, do you want to take the ... I know we're working on the order management piece, we're bringing that into WholeCell and so that's definitely on the horizon.
Brennan: Yeah, this is like very, very close on the horizon is orders and shipment information being synced between WholeCell and the Swappa B2B exchange. We do have support for that already in the standard integration that WholeCell has with Swappa's existing marketplace, and that stuff is coming to the B2B exchange very soon, certainly within the next month so you'll see that soon.
Ward: And then Amber asks about inventory management, is it manual for each device? And so we could even ... maybe we'll do ... we're going to do ... we'll do some more calls like this and go through it, but now as far as WholeCell goes, Brennan, do you want to take that? I mean, I'm a user and it took me probably 30 minutes, and I'm technical but not as technical as a lot of you guys are. It took me about 30 minutes to get the learning curve down and feel pretty comfortable. It's intuitive, I didn't really need any training. I mean, I know it's available. Mike is awesome, works with everybody on boarding. But, I mean, it's really easy and there's different ways you can upload POs and things like that. So Brennan, do you want to add on to that?
Brennan: Yeah, I think Daniel even answered Amber at some point in the chat, but, yeah, guys, I think the best way to get a sense of WholeCell is we offer a free trial so you can sign up for a free trial, we've got a support guy named Mike that's fantastic, I think he might even be on the webinar with us today and he has a really deep understanding of how WholeCell works. And so anytime that you have a question as you're trying WholeCell out we've got a little live chat and you can chat with Mike about what questions you have about getting started with the software.
The core question you had, Amber, was do I have to upload things one at a time? No. You can if you want to, if you wanted to have your technicians uploading information about one phone at a time, you can certainly do that. But we have ... that was one of the first problems we solved with WholeCell is you can upload spreadsheets or you can import device data from phone check. So there are a few different ways to get bulk inventory into WholeCell really quickly.
And I think like Ward said as well, we're pretty excited about this webinar format and we're going to keep doing these and so I'm not going to give a thorough demo of WholeCell features today, but you guys can probably plan on some new webinars coming out. And don't worry we'll let you know when they're coming out, so we can show you the depth of features and we can do a really thorough Q&A about the features in WholeCell soon, sooner rather than later.
Ward: I think we'll probably sometime in ... probably two weeks from now we can dig into it. There's an incoming inventory capability in Swappa that helps ... it's designed to help businesses save time, and it was built exactly with WholeCell in mind, is kind of the intersection, so you can push things from WholeCell straight into Swappa incoming inventory, and so we'll definitely get some time on that and look forward to it.
But I think it would be great to take it from complete start to listing, like so we add some things to the WholeCell, a WholeCell demo account, and then just watch it come through and all that. So just need a little bit of planning to make sure we can show that well and clearly.
So let's see, it looks like Jackson's question got answered by Travis so that's great. And Daniel tacked onto that too. I appreciate it. And then, yeah, I like this comment about the iPhone, we definitely didn't, but, you know, just sometimes you're just putting stuff in and it happens. Let's see here.
Oh, Raul asked and I missed that, are there any other fees for bulk sales? So today it's just $30 a month subscription once your trial period ends. We're a business, we've got to add support to this, add more tools and things and we're definitely having conversations about something like a 1% fee. But we know that a lot of places out there are charging significant amounts, we've seen 10% and things like that, we frankly think that's insane. You guys need to make money and you need to do well and feed your families and grow your businesses, and so that's kind of what our thoughts are there, but not finalized but more to come on that, but just in the spirit of transparency that's what we've been discussing.
Let's see here, what other questions? Where are buyers coming from? So happy to have commerce from everybody, but right now we're focusing on North American suppliers, so it's primarily United States, we have a few from Canada that are in, we're happy to have them. And I don't know if we have any from Mexico yet, but it's we're just trying to make sure we can have good validation of the businesses. We don't want to just let in any seller on, any buyer on. We want to make sure we can find that they've got demonstrated success selling online and good performance associated with that. It needs to be good publicly verifiable information, things of that sort. So we're working hard on that.
And Wesley Thurston is doing a lot with me on that, it's keeping us busy, but we're excited. I think it's going pretty well. I think pretty quickly we'll be over ... if we're not there yet ... well, I think we'll pretty quickly be over 100 members in just a short amount of time. So excited about that.
So Daniel had a question. I have a WholeCell account, and I'll leave out that part, is there anyone on the Swappa team that would be able to set it up for you? You know what? I've set it up, I'd be happy to get on the call with you. So there we go.
Brennan: I think to tack onto that too, Daniel, it is truly as simple as signing in, setting ... it's like signing up for software basically, you sign in on both sides. And it sounds like I bet the Swappa team would be happy to answer questions about getting things set up. And on the WholeCell side we don't have a concierge service per se, but I swear, it is so simple. You connect Swappa to WholeCell which is a very, very ... it takes maybe 30 seconds, and then there are only really simply three options of how do you want your inventory to sync over. And so we'd be happy to answer any questions, and the same thing - get on a call to guide you through the setup. So I guess we'll call that the concierge service, but I think, my hope, is that it's going to be so simple that it's not needed, but if somebody needs insight we'd be happy to do that for them.
Ward: Yeah, I agree. And we're happy to help, so it's just whatever it is, but I was able to do it. And Daniel, I know if I can do it I know you can do it, but we'll get on the phone and then make it ... get on a call and make it happen.
And so Ben posted some things. Yeah, several payment integration options, Stripe, Dwala, and that was kind of what I was referring to with the good secure ACH and everything. The lazy, I left that out, I did that on purpose, I'm trying to ... Yeah, we'd be happy, we're looking at it too and we know that's a good one. So Ben's got a comment there.
Let's see, what else?
Brennan: Ben had asked a question about grading I think earlier and some other folks answered that, but one thing that I ... and you can add to this as well, Ward, but I just ... I think that that's another piece of the B2B exchange that's really great guys is all kinds of different platforms impose their own grading standards and of course every Wholesaler uses whatever grading standards they've found works best for them. And the cool thing to me is that the B2B exchange kind of supports that, it allows you to post various conditions of devices. And so even in the screenshots that Ward was showing you had conditions all across the board. You get to describe your conditions; these are your stock listings.
And so a buyer, if you're posting stuff to the B2B exchange and my understanding is a buyer would come to you and you would get the opportunity to kind of message back and forth with them and explain what your B grade means and explain it more thoroughly than just a couple words that are in the listing.
Ward: So let's see, so Jackson, thanks for the feedback. Like I said, we're talking right now trying to figure out what's what, we want to make sure that ... and we've got a good demonstrated history of this. With Swappa our fees are low and deliberately so. And the reason is we want you guys to be able to keep a large amount of your proceeds. So anyway, we'll be talking about it and go from there. But I think at the end of the day there will be something, but I just don't know quite exactly what yet.
So I'm trying to think what else. I think we've covered a lot of the features. We're looking for feedback. A lot of the capabilities on Swappa like our business programs, our enterprise seller programs and just on the site generally is as a response to feedback that we get. And we want your feedback, don't ever hesitate. A lot of the things have been built are the result of people asking for it. And so I see, yeah, thanks, Amber. Let us know if we can help. And I'll put my email in here too just in case anybody wants to reach out and has any questions, I'm happy to help.
And then Justin had a question, how often does the quantity sync? So that's daily today, correct, Brennan?
Brennan: Yeah. And the cool thing, so we've kept the Swappa, the B2B exchange sync really simple. With other marketplaces you kind of got to sync stuff over and then manage that stuff. And with the Swappa B2B exchange sync we just overwrite what you had written over yesterday with the latest every day. So once a day it just gets overwritten, so the current stuff that you have if you sold a bunch of it or added a bunch more stock that just gets written over once a day. So hopefully ... it depends on how much commerce you're doing every day and how much you're selling out, but at least to start that is we try and keep it simple and easy, so that should be an easy interval that every day you know you've got the correct stock as the day starts in the exchange.
Ward: And so as far as next steps, please don't hesitate to reach out to any of us and we're happy to help. I put my email there and this will be recorded if you want to look back at it.
Still only stock photos on B2B. Yeah, so right now there aren't ... we don't have photo support, but that's something that we're getting ... got a lot of feedback on and just trying to figure out the best way to weave that in. And with want to buy, want to sell they'll definitely be there, but just with some of the complexity of stock lists and things we just want to ... sometimes it's hard to make something simple, but just a little ... so I suspect early to mid next week we'll figure something out. You could put in a link. We've also had people ask about video, that sort of thing, I think it could be helpful. So definitely looking for that. That's great feedback.
So anyway, go ahead, Brennan.
Brennan: Oh, I was just going to say I think one of the questions Daniel had back there was do they get an opportunity to describe what B grade means to them in their B2B profile. And I actually don't know that off the top of my head. Is there for your profile on the B2B exchange, for a seller's profile, do they have a like a description area in the seller profile?
Ward: When they're creating in the stock list I believe we can add it, but I'm going to have to double check on that. And I know Travis if you're on, you may know the answer to that. But I think we can ... if it's not we'll get an answer out to Daniel, but you can put in the description, but ... oh, there we go.
Brennan: Yeah, I hope you guys don't mind. I just figured ... I think kind of describes what I was saying earlier and hopefully Daniel this answers your question a little bit. Their condition section is a lot more flexible, so you can put a more thorough condition description for each stock list item that's going on to B2B exchange. And if you have things in different conditions, say 50 of one, the same product but in different conditions, those will show up in this table with the different conditions noted.
Ward: And I suspect we'll find, as we often do, that we just add some additional fields and things for more thorough descriptions, so that's good. That's good feedback.
Brennan: And more to what you're saying, Daniel, I guess I don't know if the exchange has a profile, but I assume that that's where you'd put it is, you'd put your grading specs in your profile.
Ward: Yeah, we don't have like a section like these are the definitions of condition definitions or condition descriptions for a particular seller, but I think it's a great suggestion. So I appreciate it.
Ward: All right.
Brennan: Yeah, any other questions before we take off guys and gals?
Ward: All right. Well, yeah, thank you guys so much for everything. I appreciate the time. And thanks, Sean. Don't hesitate to reach out to us, let us know how we can help. But just in terms of ...
Oh, okay, Dylan's got a question. Let me just finish my thought and then ... so if there are other questions or items that you want, just don't hesitate to let us know. But if you want go and sign up at swappa.com, B2B. Here I'll just put the link here, swappa.com. It's in there, earlier exchange. And then just hit the join button and basically this is just a very short form and providing information, kind of that I talked about earlier. If you're selling in other places, please give us a couple links so we can go take a look, business license, that sort of thing. We'll go look it up and just do some validation, but we try to move pretty quickly and get those approved same day if possible. So just go and join.
And then also make sure you go to WholeCell, and they've got the 15-day trial that you can go in there. And so connect the two and I think you'll be very pleased with it.
So Jackson's question, do Swappa protect sellers and buyers? So what we're doing ... a lot of the work that we're doing up front is trying to do some vetting and make sure that we're bringing on the people that should be on. And we're also doing other things like bringing in there stars from the Swappa marketplace, that sort of thing.
We will obviously take action if we have bad actors on the platform, we take a lot of pride in our no junk, no jerks policy. And we don't hesitate to remove people from the service if it comes to it. But hopefully that'll be very rare instances, but we'll be involved and people that are trying to abuse the service in any way we just have to make sure we're protecting the users as best we can. So that's probably the best explanation I can give right now. But we just not ... there are people who applied that we were unable to get the verification that we needed and we just can't proceed because we don't want issues and things like that.
So one, yes, Swappa slag, yes. Well, my email's in there, send me an email and we'll get it going. Oh, yeah, yes, we got that from Oxford Pennant, it's a neat little company in Buffalo, New York that makes pennants, so that's where we got that. Yeah, I've got a WholeCell t-shirt too and it's a great shirt.
Brennan: Listen, you have an email from me about that, so just check your email. And actually there was a question up from Dylan Jackson both about returns, Ward.
Ward: Oh, yeah, go ahead.
Brennan: Well, I think that so you guys know WholeCell has a returns function for your customers. We don't particularly have a vendors ... like a vendor RMA system yet. But I'm really excited about that potential with the B2B exchange, and so that stuff doesn't exist yet, you need to process your returns by communicating with either the buyer or seller. But I think that there's a lot of opportunity for that and we'd love people's feedback about managing returns and how the returns process works when you're buying and selling in bulk, because I think we want to build tools that support that.
So we have a system for managing customer, like your customers are amazed, so if you're a seller we have a tool for that within WholeCell. And, yeah, excited about the future of getting those things integrated.
Ward: Yeah. And there's other capabilities that WholeCell has that we'd really love to find a way to build into this together, so kind of the offer analysis functionality and some of that I think. Just there's a lot we can do. So we're just getting started, but it's helpful to know if it's a priority for people, that helps us prioritize accordingly.
And on the, sorry, on the pennants but we'll definitely get you some good slags, so ... No, I'm not. Ben Edwards is and he's our founder and CEO.
And so protection against fraud, so Swappa does a great job at that today. We have lots of tools that we use. Many are just simple things, but we've got a dedicated fraud team. We're just ... we're working hard on the vetting process; it is our sort of main point of attack on that right now. But I think there's a lot of learnings that we have from the marketplace that we can adapt, and that's probably the best ... the most thorough response I can give you right now.
One thing I did want to mention before I forget, we had a section of Swappa in the past called the boneyard, and people really liked it because they could come on and buy something broken and fix it because they've got folks on staff who maybe do it themselves and they've got the parts. The boneyard's coming back. So I'm not exactly sure when but I would guess in the not too distant future, maybe like the dev team is going to cringely find out, I even said something, but I'm guessing like in the next two months it'll be back alive.
And the one thing with the boneyard before we had problems with was that we just can't have individuals coming on and listing broken stuff or blacklisted items, things like that, because we just ... we don't know who they are and the verification, but we know that there are a lot of legitimate reasons why a business would end up with some of those devices, maybe they have to buy a forced distribution of things when they're acquiring inventory, things like that, and so they need channels to get rid of or not get rid of but distribute all those things. They all have value.
So anyway, so the boneyard's coming but you have to be a member of the B2B exchange to list there. People will be able to come on and buy without being a member in the boneyard much like it was before, and we'll have some payment integration things there. So that part of it would be the same, but as far as creating listings and things it'll be a function of people who are a member of the B2B exchange because we've reviewed who they are as a business, etcetera.
There's lots of questions here, I guess we'll hit those. I think I answered the fraud piece as best I could.
On the payment stuff, we're always looking at things, we're looking maybe not ... in-house is not the way to describe it, but there's a lot of people that are really good at this, but we're definitely looking at some options and incorporating some of those. So more to come there.
And so fraud exposure to be ... would be to Swappa, not the seller. Oh, I see what you're saying. Yeah, we're not there yet, but things we're always talking about.
And Jackson, thanks for joining.
Ben Freeman, your question, does the CEO help out in moderation? I don't know that Ben does a lot of moderation now, but I can tell you for probably the first two years of Swappa I don't think he had a Saturday night off, he was ... I knew him before that and I know he had a day job and was doing Swappa as a side project and so he probably didn't have a Saturday night out for a couple of years. So he knows everything deep there is. But yeah, he's creating and building a lot of stuff, so it's ... we have a good time, but everybody ... when you talk about a job post we kind of have a situation where we usually include, "That's not my job," doesn't really happen here, we all do a little bit of everything. Except they don't let me code, that would be a disaster.
So anyway, hopefully I've addressed that.
Anyway, any other questions before we break? I want to be respectful of everybody's time.
Well, I think we'll go ahead and call it. Like I said, we'll ... Yeah, thank you, thank you guys so much. But, yeah, just get your submissions in, we'll get them approved quickly. If there's any questions we'll reach out, but most of the time everything's good to go but we'll keep it up and we'll do another one of these soon. I'm just kind of touching on some different aspects of the integrations that we have and I just want to save you time and help you get the most for your business and for yourselves.
So I deeply appreciate it. And Brennan, anything to add or we're good?
Brennan: No. Thanks everybody for the time. If you guys have any questions about WholeCell please just come to the site and start a conversation with us, we'd love to answer any questions or help you get started. And thanks, Ward, thanks for all the support and we're really excited to be working with you guys.
Ward: Yeah, same here. Thank you guys. It's huge, huge opportunity. We're thrilled to be working with you guys and just it's exciting, so helping our mutual users.
So well, very well guys, and apologies for my internet dropping out, not once but twice. I'll have to give you ... it give me a heart attack. So anyway, well, thanks guys. Have a great weekend and we'll talk again soon.
Brennan: Take care everybody.
Ward: See you.