Nathan Latka
๐ค SpeakerAppearances Over Time
Podcast Appearances
I've had the chance to chat with, I think, one or two of them and was really impressed.
But I guess, Lonnie, when you joined the board and there was sort of all this floating idea on the board agenda of like, hey, what should the equity split look like for the go-forward management?
Why wasn't sort of anything like, you know, we obviously pushed that once FounderPath came in, but why do you think that didn't happen ahead of time or before that?
Yeah.
We look, so picking up at that part of the story from founder paths perspective, you know, when we got the original data room from you guys, there was a couple of things.
Number one, we loved the business.
We know the space pretty well.
We know some other, I have an activity in the space and I also know the other products in the space really well.
And when I got the product tour and talk to one or two of your customers, I said, Whoa, this product is already feature parody with much larger companies in the exact same space.
These guys just got to get sales and marketing done.
And right.
And you're going to see the growth and you're seeing that now.
But one of the things, the biggest risk we saw back in February when we were diligencing the Vox Pop me deal, despite love and the product was, and I'm going to generalize here because I don't remember the exact numbers, but the, when we, when I asked Andy and Lonnie, you, Hey, what is the go forward management team?
who's going to take this thing to the next level?
And you guys listed, you know, your key names, right?
And there were several of them.
And I then went back to my team and I looked at the cap table and I sort of looked at how much equity those names had.
And again, I don't know what the exact number was, but it was something, I want to say it was like maybe something between like eight and maybe 15% of sort of like, this was the group that you guys said was going to change the company and drive off future growth.
And they were already diluted down to like eight to 15-ish percent.
And it was something on the order of like four to nine people, right?