Mitchell Reichgut
๐ค SpeakerAppearances Over Time
Podcast Appearances
So that's a top line number for us.
A million dollars back in 2007 or whatever was all the revenue that was coming into the company and our profits would fall out of that.
Yeah, it's the latter.
Got it.
50K, here's 5K, and you build a million dollars scratching around with that kind of stuff.
Yeah, I don't even have that handy because I'll tell you what, we did not take home a lot of money personally.
We kept putting it back into the business so that we could grow it and grow it and grow it.
And back then, cash flow management was really something we had to be stringent about.
I should mention that we had a wonderful partner in those years or shortly after there called WTI, Western Technology Investment, that we did a round of mezzanine debt.
And that really helped us get through the early years and ramp up.
Oh, gosh, I don't even remember.
We did a couple of deals with them, but it was an enormous help and something that a lot of entrepreneurs don't think about.
Debt is wonderful.
It's kind of like going to Chase Bank, except you're not putting your house on the line.
They're going to charge you a little bit more interest, but they get into your business and they think it's a good bet because they know the industry.
And we've been partners with them ever since, and they're just wonderful guys.
No, we haven't.
But you can imagine with 75 coming probably pretty close to 80 people this year, it's significantly higher.
Remember that raise isn't like, I guess some of the press called it a series A, but it really wasn't your typical series A. Again, we're a profitable company.
already well on our path.