Maayan Adam's Mami Club Grows Rapidly Without Selling Despite $300 Million Offer
Maayan Adam, founder of the Israeli consumer club Mami, oversees her growing business from its offices in Ramat Hahayal, Tel Aviv. Launched about two and a half years ago as a consumer club, Mami has evolved into a platform combining social commerce, fintech, insurance, and credit services. Adam and CEO Ofir Yosef recently launched a credit card with Isracard, which saw over 11,000 issuances within 24 hours and now has 20,000 users out of 400,000 club members.
Adam, 39, who gained popularity on Instagram by discussing fertility preservation and political issues, realized her influence as a consumer power and created Mami to offer significant discounts and transparency to her predominantly female customer base. She emphasizes trust as the club's core value and rejects exclusivity demands from brands, allowing multiple products to compete openly on the platform. Adam invested 700,000 shekels of personal savings to start Mami without external investors.
Since CEO Ofir Yosef joined in October 2023, the company has expanded its staff from seven to about 40 employees, with plans to reach 65 by year-end. Yosef, with a background in technology and startups, highlights Mami's advanced technological infrastructure, including a virtual currency system called Mami-Money and a paid subscription tier, which differentiates it from other consumer clubs in Israel.
Mami's business model includes purchasing stock at discounted prices and sometimes subsidizing vouchers to customers, generating revenue through credit card commissions and commercial agreements. The club has facilitated transactions worth over 200 million shekels, excluding real estate and vehicles, which push the total beyond 500 million shekels. Despite offers up to 300 million shekels to sell the company, Adam insists she is committed to her mission and not interested in selling yet.
The club has also ventured into real estate and vehicle sales, moving hundreds of properties and cars rapidly, though it remains selective about deals to maintain value for customers. Adam and Yosef note that 95% of Mami's customers are women, reflecting their role as primary household consumers and decision-makers. Looking ahead, Adam stresses the importance of choosing partners motivated by social change rather than profit and envisions Mami as a publicly owned company where customers can hold shares.
