Alan Trefler

You know, part of the challenge that we had is we were capital constrained.

It was a time when lots of companies, including companies we competed with, were going public.

We wandered down to Wall Street and lo and behold, you know, fell to the rapture song, as it were.

The bank's rapture song, right?

So January of 96, I went down to Wall Street to do a little research, talking to some of the, you know,

Suspects, you would expect.

And lo and behold, we were public in third quarter of that year.

And what was the run rate at that point?

We had a massive run rate the day we went public of 32 million in 12 month record.

I know it well.

And the trouble with that is obviously introducing too much public market money into a firm that's accustomed to bootstrapping entirely and accustomed to a different go to market model.

Let us and gave us the opportunity to frankly waste a lot of it.

How much did you raise on day one?

We raised over $100 million.

No.

Well, it was all entirely self-funded.

And my mother's retirement and other things at that time.

Mm-hmm.

Well, 847 was last year.

And the target for this year is about 900.