Michael von Roeder

But on average, that would be 500, but that's a bit misleading.

So, you know, there's... Let me ask you differently.

Let's say 5,000.

You count in the tenants.

It's a lot of logos.

That's the idea.

Although we usually start with co-working spaces because for them it's really nice to have our solution because they have a member app and we make the member app smarter.

So the member app is not only for engaging with the community, but also with the physical space of the co-working space.

Interesting.

That's our pitch, right?

And then what happens is that corporates, they all, you know, the new way of working and stuff.

So they use co-working concepts and that's how we get into the corporates.

Yes.

Theoretically, yes.

But obviously we give some heavy discounts, A, to grab some of the market and B, if you have more than one door, you know, it goes down.

Why?

Because in the retail, sorry, in the real estate industry, at least in Europe,

very conservative.

So they don't understand SaaS.

So they want to buy the whole system.