Ethan Anderson

We can integrate it into our store operations and provide services to our consumers, build loyalty with our shoppers, and we can build the heart of our tech team in Silicon Valley.

So for them, they came wanting to buy this company.

And it was just a matter of finding a price that everybody could accept.

No, you know, I only went to the Galapagos Islands for a few weeks and did some hiking in the rainforest.

Not so bad.

But I already knew that I wanted to start my time.

And even when I was at Red Beak and I had the idea and I left because I thought, you know, there's enormous opportunity there.

to be the Amazon.com of local services.

And, you know, the concept, and by the way, the company's pivoted a little bit, so I'm giving you the original concept.

Sure.

The concept was, could we be, you know, a on-demand destination where people come to shop for local services and see real-time availability, book and transact through us, and we build that out as the platform on the web that local businesses connect to to facilitate this.

And so it was very much like an Amazon or an open table of local services.

Yeah, well, so to walk you through how we make money, I have to walk through the evolution a little bit of where we are today as a company and what we provide.

So that original business that I described is the marketplace, and we take about a 40% commission on every new customer we bring you.

And that might sound like a lot, but honestly, Groupon paved the way and sort of set 40% as a standard for new customer acquisition.

And it really only comes out to about $25, $30 a new customer, which isn't a lot for a business that hopes to keep a customer for life.

So it's really not that much.

So that was the original business model.

And we still keep that business today, the MyTime Marketplace.

And that business gets about a million visitors a month.