Brian Littleton

I had no money when I started the company.

So ShareASale is a performance marketing network, which means we kind of sit in the middle between, say, a blogger or a podcaster or any website owner and then a retailer that's selling a product or a digital product.

So we track clicks and basically sales of commissions that take place between those two folks, provide the analytics, provide the marketplace for them to meet.

And then in terms of a revenue model for a performance marketing network, it's based on the commissions that are basically paid out.

So we're essentially taking a cut of a commission that's paid out for an individual sale or down.

whatever it might be.

The models are a little different depending on programs, but generally speaking, it's about 20% of whatever the affiliate commission is.

So you can calculate it kind of back out from there.

That's the pricing on the network.

Occasionally, things get a little different when there are different models for higher commission products, for example, digital products or something like that.

But that's basically where it ends up at.

Typically in retail, the commissions are lower than what you've just stated.

I mean, a 30% might be a digital product.

A t-shirt in fashion might be a 5% or 10% affiliate commission.

So like I said, it kind of differs on the spaces that you're in and what type of publisher it is.

A coupon publisher, for example, might be earning a 5% commission.

A mass media content publisher might be earning a 40% commission.

Those are different types of sales and different types of customers that they're bringing.

model of the performance network stays the same as 20% of whatever that number is.

Well, I mean, we're providing the services to these independent retailers, right?