Brendan King

digital advertising.

We make second order revenue.

So we provide those services to them and they resell them.

So we have a first and second order revenue model.

It's interesting.

When we started, we were a point solution provider.

So we started by building a listing management system, reputation management, and social media management.

And

When our partners resold those, we only made money if they made money.

As we evolved in about 2014-15, we realized that our partners didn't have a product problem.

They had a scale problem, a sales and marketing problem, a fulfillment problem, a delivery problem.

We started to charge a subscription just to use our platform.

Our subscription revenue is now about a third of our revenue, so it's very meaningful.

But our second order revenue is really what's really important.

So our partners won't pay us a subscription if they don't make money.

So we only succeed if they succeed.

No, we're, um, this year we'll end the year at a run rate of $28 million.

Absolutely.

So we sell, um, we sell on a yearly subscription, uh, billed monthly, uh, for our, for our subscriptions to our, to our resellers.

But they, they resell that, um, the second order revenue or, you know, that that's all