Nathan Latka

So if it's 40 and you sell for four, I mean, you read companies all the time today that they raise a hundred million, they sell for a hundred million, no one makes any money.

out well so when you say a bunch of money just to be clear again that's i would call that pretty darn capital efficient it was a good one for everybody yeah where i come from 40 million dollars is still a bunch of money it's not 400 million it's 1.8 billion but 40 million in most people's minds is a bunch of money yeah well it's all it's all relative is how we like to look at it here on the show let's talk about source points so was this a problem that you had at admelt you said i need to leave and actually just build this for everyone else or how did you identify this problem

So bad.

We'll go back and get the backstory here on the first customer, second customer, et cetera, but help us understand today as the company stands.

You just described the product well.

For a customer that wants to pay for and use the product today, what sort of market are you serving?

What's the average ACV, would you say?

100 bucks, a million bucks, something in between?

What do you price against in terms of your utility based pricing?

Is it number of seats, number of data, number of profiles protected?

What do you price against?

And that third one that you're talking about, percent of spend that you're protecting, are you taking, like I said, it's a traditional take rate model there, percent of spend or no?

So Ben, when you say basis points though, you're talking like under 1%, right?

Okay, got it.

Okay, that's super helpful.

Then again, the first one is pricing on volume of API calls, it sounds like.

And then another, the second product is based on like a pure SaaS fee, unlock XYZ features in this many seats sort of deal.

Very cool.

Okay, now that we have that part of the story, take us back to the early days.

What year did you write the first line of code for the platform?