Kevin Tan

I mean, that's the one that grew over the last seven years and that's kind of

hence the bigger chunk.

The fastest growing areas are the areas where we're selling data as a service or we're selling things on a SaaS basis where we're distributing data or doing onboarding as a service.

Yeah, well, you know, I think people are, you know, initially when the business started, I think people onboarded data and sold it, you know, on a CPM on a transactional basis because

that was the way that media was sold.

So it was just really easy to append and buy it because that's the way the advertisers bought it.

Yes.

So what's happening right now is we're selling data.

We tend to be selling data as a service into a lot of different brands and advertisers and publishers, et cetera, and businesses who are consuming that data and using it for a wide range of service.

They're buying a certain volume of data that they can utilize for whatever purposes are stated in the contract over a period of time.

So it's a recurring monthly subscription time.

Yeah.

I mean, in terms of that way, it's predictable.

I think also, you know, if you look at the predictability, even across the transactional stuff that's attached to the ad spend, it is pretty predictable.

You know, and we see we certainly see that in our business.

It's in terms of spending very, very low churn rates in terms of if you're looking at advertisers on a monthly basis and we have.

thousands and thousands of advertisers buying our data on a monthly basis.

But if you look at other businesses, I know Jeff Green over at the Trade Desk is talking a lot about how they have predictability of their revenue, even though it's transactional, it's much more SaaS-based, even though it's transactional.

So I think you start to see this in a lot of areas, but we are actually seeing pretty rapid growth in the SaaS part of our business.

We're not seeing it because our data is being sold not only through advertising and media and to a whole bunch of other channels where