{"id":543939,"date":"2022-02-24T03:55:24","date_gmt":"2022-02-24T03:55:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/24\/my-morning-routine-ezz-fayek-co-founder-and-ceo-waffarx\/"},"modified":"2022-02-24T03:55:24","modified_gmt":"2022-02-24T03:55:24","slug":"my-morning-routine-ezz-fayek-co-founder-and-ceo-waffarx","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/24\/my-morning-routine-ezz-fayek-co-founder-and-ceo-waffarx\/","title":{"rendered":"My Morning Routine: Ezz Fayek, co-founder and CEO, WaffarX"},"content":{"rendered":"

<\/a> Ezz Fayek, co-founder and CEO, WaffarX: <\/strong>Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Ezz Fayek (LinkedIn<\/a>), co-founder and CEO at WaffarX<\/a>, a cashback provider that recently closed a multi mn USD funding round<\/a> from Silicon Valley VC Lobby Capital. Edited excerpts from our conversation follow:<\/p>\n

My name is Ezz Fayek and I\u2019m the CEO of WaffarX.<\/strong> After I graduated from a French law school, I did business development for France\u2019s former export agency Ubifrance in Dubai before starting WaffarX. I am the father of a six-year-old son and I\u2019m enjoying the journey of WaffarX.<\/p>\n

I never practiced law because I felt early on that it wasn\u2019t not for me. <\/strong>I was always more interested in understanding the business than the litigation side, even when I did summer internships. I opened my first company in 2011 and I got the idea for WaffarX in 2016, but it wasn\u2019t until 2018 that WaffarX was born. I was good with numbers but I never studied finance and accounting, so when I went into business, I went to Edinburgh Business School and took courses in finance, accounting and project management.<\/p>\n

I usually wake up between 7 and 9 am and drink my coffee. <\/strong>I check my emails and respond to anything urgent, then I look at my calendar to make sure I\u2019m prepared for everything for the day. If my son isn\u2019t at school, then I spend some time with him because I don\u2019t get to see him at night. I try to go jogging once a week on days when I don\u2019t have calls. Then I have breakfast and go to the office.<\/p>\n

As a startup, we\u2019re very dynamic so my days are not identical and it depends on the company's needs: <\/strong>We have a flat hierarchy so we leave our titles at the door, and sometimes my job is to fill in the gaps. There are a few things I do on a daily basis, like checking the numbers, making sure everything is going in the right direction, checking the status of our partnerships, sitting with my cofounder, making daily calls and responding to emails. Sometimes I work on fundraising, prepare for board meetings or work on acquisitions with the marketing team.<\/p>\n

One of the things I do every day is making sure that the culture of the company is going in the right direction. <\/strong>We believe in giving each employee ownership of the company to share in the dream. We give people a lot of freedom: we don\u2019t check fingerprints or check working hours, but I have to make sure that no one is abusing that.<\/p>\n

I\u2019m not very organized by nature, but I\u2019m doing my best to be.<\/strong> I try to focus on two main KPIs every day so I never get distracted from them, and I try to prioritize things as much as possible. And I\u2019m trying to make use of tech to stay organized, so I use Microsoft\u2019s OneNote. I also have a lot of team members that I trust, so I delegate and that helps me stay focused.<\/p>\n

We work with both merchants and consumers at WaffarX.<\/strong> Merchants pay third parties like WaffarX to acquire customers, and we help them gain the insights to understand them. Customers want real and honest offers, so we show them the cashback offers from merchants. We do online and offline media buying and partnerships to build a database that we use to help customers.<\/p>\n

We are a very customer-centric company: <\/strong>We focus on offering customers the things that they need. And we are working with merchants to offer them something that is valuable and that is performance-based. We only make money when our customers make money.<\/p>\n

Cashback depends on the growth of the e-commerce market<\/strong>, so we create a way for brands to use us as a tool to help them grow and succeed. The e-commerce market is big and it\u2019s growing very fast. We are not the only ones fuelling the growth, of course \u2014 there are much bigger entities in this space like banks and even the government. Right now, we only do online offers but very soon we will start to offer in-store cashback, so rewards will go on users\u2019 cards.<\/p>\n

We were the first cashback provider in the region and it\u2019s good to be the first, but it\u2019s also harder because a lot of things are uncertain. <\/strong>We are already backed by A15, one of the best VCs in Egypt. We wanted to do our next round of funding differently and add people to the board who have done exits in this business before. We found Ebates, which is a US-based cashback company, and the VC that invested in them, Lobby Capital. They had never invested outside of Silicon Valley. We showed them what we do and they were very impressed with our numbers. They invested in us in November last year.<\/p>\n

Our focus for the next phase is the same but with bigger plans. <\/strong>One of the criteria that we had when we set up WaffarX is to have a borderless business, so we\u2019re testing Saudi Arabia and the UAE to decide where we\u2019re going next.<\/p>\n

My favorite way to relax is to go to the beach<\/strong>. During the summer I go for long weekends every weekend. I like to spend time with Youssef, my son. I love music and I play music as well \u2014 I have a mixer and do some DJing whenever I have time. I also like watching and playing football. I read about management sometimes, but not regularly.<\/p>\n

My favorite book is Eric Ries\u2019 <\/strong>The Lean Startup<\/a><\/strong>.<\/strong> I think it\u2019s a good one for anyone who is in the entrepreneurship or business scene. I also like Good to Great<\/a> by Jim Collins a lot.<\/p>\n

When I was in Dubai, I had a manager who told me to learn something about everything and everything about something. <\/strong>I\u2019ve found that advice very useful. He explained that you should never miss an opportunity to learn a new skill, even if you think it won\u2019t be useful. When you know something about everything, it helps you in conversation. And learn everything about something, that\u2019s what you\u2019re focused on, what you do everyday.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ezz Fayek, co-founder and CEO, WaffarX: Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Ezz Fayek (LinkedIn), co-founder and CEO at WaffarX, a cashback provider that […]<\/p>\n","protected":false},"author":1,"featured_media":543940,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7156],"tags":[1066,1083,199,1082,72,1081,387],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-my-morning-routine","tag-a15","tag-cashback","tag-e-commerce","tag-ebates","tag-enterpriseam","tag-ezz-fayek","tag-my-morning-routine","wpautop","entry"],"acf":{"mongo_id":"87676c31-3ee7-49e0-afbf-f4332e3fd47d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/357.jpeg","photo_position":"above","related_issue":[543916],"teaser":"","voice_url":""},"yoast_head":"\nMy Morning Routine: Ezz Fayek, co-founder and CEO, WaffarX - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/24\/my-morning-routine-ezz-fayek-co-founder-and-ceo-waffarx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"My Morning Routine: Ezz Fayek, co-founder and CEO, WaffarX\" \/>\n<meta property=\"og:description\" content=\"Ezz Fayek, co-founder and CEO, WaffarX: Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. 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Johnson spent nine years at the helm of e-commerce firm Ebates, which was sold to Rakuten in 2014 for US 1 bn, and also served as CEO of online learning platform Udemy.\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":586769,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/16\/meet-our-founder-of-the-week-hadeel-fayek-founder-and-ceo-of-joviality\/","url_meta":{"origin":543939,"position":1},"title":"Meet our founder of the week: Hadeel Fayek, founder and CEO of Joviality","author":"enterpriseam admin","date":"16 May 2023","format":false,"excerpt":"Joviality produces natural skin and hair beauty products","rel":"","context":"In "Founder of the Week"","block_context":{"text":"Founder of the Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/founder-of-the-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/893.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553567,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/08\/waffarx-closes-multi-mn-financing-round-from-silicon-valley-vc-firm\/","url_meta":{"origin":543939,"position":2},"title":"WaffarX closes multi-mn financing round from Silicon Valley VC firm","author":"enterpriseam admin","date":"8 December 2021","format":false,"excerpt":"Cashback services startup WaffarX closed a multi-mn USD funding round from Silicon Valley VC firm Lobby Capital, Wamda reported, marking Lobby\u2019s inaugural investment in the MENA region. WaffarX plans to use the funds raised to expand its platform and user base, and enter new markets in the MENA region. WaffarX\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/257.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":640660,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/my-morning-routine-bassem-fayek-managing-director-and-partner-at-boston-consulting-group\/","url_meta":{"origin":543939,"position":3},"title":"My Morning Routine: Bassem Fayek, managing director and partner at Boston Consulting Group","author":"enterpriseam admin","date":"29 August 2024","format":false,"excerpt":"BCG\u2019s ultimate purpose is to unlock the potential of those who advance the world","rel":"","context":"In "My Morning Routine"","block_context":{"text":"My Morning Routine","link":"https:\/\/enterpriseam.com\/egypt\/my-morning-routine\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2562.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565826,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/06\/earnings-watch-rameda-amoc\/","url_meta":{"origin":543939,"position":4},"title":"Earnings Watch: Rameda, AMOC","author":"enterpriseam admin","date":"6 May 2021","format":false,"excerpt":"EARNINGS WATCH- Tenth of Ramadan for Pharma Industries and Diagnostic Reagents (Rameda) reported a bottom line growth of 26% y-o-y to EGP 30.2 mn in 1Q2021, in an earnings release (pdf) out today. The company\u2019s topline grew 17% y-o-y to EGP 270.8 mn during the quarter, \u201cdriven by strong performance\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591282,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/02\/rameda-retail-offering-1-6x-oversubscribed-on-second-day-of-subscription\/","url_meta":{"origin":543939,"position":5},"title":"Rameda retail offering 1.6x oversubscribed on second day of subscription","author":"enterpriseam admin","date":"2 December 2019","format":false,"excerpt":"IPO WATCH- Rameda retail offering 1.6x oversubscribed on second day of subscription: Rameda Pharma\u2019s retail offering was 1.6x oversubscribed at the end of the second day of subscription yesterday, according to the local press. 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