Anurag Agarwal

You're looking at... Or ratchet clauses.

Well, ratchet clauses.

Governance is very important.

Do investors want a board seat or do they want to be involved in the governance in some way?

That's important.

You start thinking about conversion metrics that are in line with where the market is because when you do an off-market deal with one investor, you pretty much are opening the door for the others to want the same terms.

You know, it's – I don't know if it's a worry as much as it's the reality of where we are today.

I mean, to me, where we are today is not a reflection of where we're going.

If you're growing at 30%, 40%, in fact, last week our business grew 40%.

So if you're growing at the pace at which we are and you have a massive global opportunity like we do staring in front of us, you know, by the end of this year we're going to be in five countries.

So, you know, as –

Do you know, Nathan, that you're never really pricing value today.

You're pricing value for the future.

So my expectation is in 2016, if all goes well, we will be well past a $1.5 million revenue run rate.

So that's a five times growth on our current run rate based on purely the opportunity.

and the metrics we see ahead of us.

So you're pricing some of that in, and if I take that same $6 million valuation and attach it to a run rate of $1.5 million, that's a four times multiple.

No, I think it's a very fair point.

I'm just going to add to what you said and say, you know, to the younger folks who are listening on this, and I hate to even say that because that means I'm very old.

How old are you?