Clate Mask

Um, we raised private capital instead of going public.

And that's when we did the Bain round.

You know, you look at that, we raised between Bain and Goldman, $109 million.

And you know, that was an IPO nine years ago, maybe five years ago.

Yep.

I don't know if there's anything we didn't anticipate.

I think it was just that when the market changed a little bit,

probably, Oh, I don't know, 2014.

Um, we, you know, we just expected that, that, you know, a company that was well on its way to a hundred million would be, would be finally ready to go.

And we just found that, no, you know, as we talked to bankers, we talked to others, we just felt like there's no, it's always better to stay private longer.

Interesting.

And you can get the capital than do it.

well, you got to get the target customer right.

So in small business in particular, it's really tough because you just bring in all sorts.

And most of the other people that are doing something similar to what we're doing, they have a much higher churn.

And we're just not willing to do that.

We don't play that game.

We're dead serious about helping small businesses succeed.

You mean they're acquiring customers unprofitably?

Yes.