Nathan Latka

All right.

So that's the bankruptcy route.

Other deals you've done, some of them actually we've had on the show.

So I remember we had dashed this on back in 2022, 2023.

Oh, you did?

Yeah.

They were really proud of the fact that their paid marketing was working.

They were spending about $50,000 a month on paid.

What did you see when you looked at that business and why'd you end up doing the deal?

Well, it's a great business.

Yeah, they said when they came on, again, this was January 26, 2022, that they were spending $440 on CAC to get a customer that would pay on average $135 a month.

So they had about a five month payback.

And you're saying one of the values you brought is you saw opportunity to basically make those economics, you know, 100% better, cut the cost in half.

Yeah.

That's great.

They had 2,600 customers.

You mentioned churn though.

I mean, they did tell me, I remember reviewing the notes.

They said they had 36% gross annual logo churn.

I mean, most, I would imagine most people listening are going, man, if I've got churn at 36%, no acquirer is going to want to buy me.