Nicholas Vandenberg

Most Series B firms don't want to buy 10% to 20% of the business.

Tiger will come in and buy 5% if they feel like you've got product market fit and you're going to be one of the winners.

Is it fair to say you sold between 5% and 15% of the business?

Can we put that range on it?

I'm going to guess here.

You haven't told me this, but I'm going to guess.

The only reason you would do a round unsolicited from Tiger four or five months after you raised a $15 million Series A at a $60 million pre is if there was a significant amount of secondary recreated liquidity.

So how much of that $33 million actually went onto the balance sheet of the business?

Yeah.

And Nicholas, what I hear you say is this $30 million went on the balance sheet and the same amount went into secondary.

So another $30 million was secondary.

So the total check size from Tiger was more like $60 million.

I see.

Okay.

That makes a lot of sense.

So when you say you're on your way to being a unicorn, I mean, what revenue at the valuations you're currently seeing in the marketplace, what revenue do you think you have to hit to reach a billion dollar valuation?

Not just reflects it, it's not even close.

Like if you look at a company like Gong and the revenue that they're doing, right?

So I just had a meet on somewhere between about 120 and 160 million bucks in terms of run rate, but it's 250 million raised at a $7.8 billion valuation.

There are other companies that have 120 million bucks in revenue, but they're nowhere near a $7.5 billion valuation because their growth rate is nowhere near gone.