Chris Savage

So we had to do right by them because of course they want us to sell because that was going to be a great return.

Um,

I can't say exactly, but I'll say, you know, I, what I will say is that when we raised, it was a different time and a harder to get a higher value.

So they, they own more than I would want them to.

Yeah, sure.

They were in that range.

That's exactly right.

And it's because when we raised our first round, our MRR was literally $1,000 or like $1,500.

So it was like we were very...

And there was a lot of risk in the business.

I mean, I give credit to our angels.

If I saw a business that was just doing $1,500 in MRR and it was like the stage, I don't know that I'd be able to make the investment.

So I give them tons of credit.

But yes, it meant that they owned a material enough amount that their shares also were preferred shares.

And so it meant that they had rights to a board seat.

They could block a sale.

We tried to set ourselves up because we assumed we were going to raise venture money.

So we tried to make the terms pretty venture-y so that if we did, the venture capitalists would come in and be like, oh, these seem like fair terms.

We'd hope that they would like be closer to aligning with that.

It was a priced round.