Puroon Shahada

We've added an audit committee, a compensation committee, and certainly recently we just added an M&A committee.

We've started to do these acquisition conversations much more rigorously internally.

Every two weeks we are meeting.

This is the first acquisition we did, essentially paid, you know, a multiple, which was certainly, you know, how, at what multiple you raise your money is going to play into where you can acquire others, because you want to make sure that you are instantly accurately accretive in these transactions.

So think about that.

If there are other companies that you want to acquire downstream, what multiple would they trade at?

That would give you the multiple that you should shoot for and what you could be comfortable with.

I do believe working through the COVID cycle was an interesting one just because you couldn't meet them.

That was a tough part of doing an acquisition last year.

You really had to do this remotely most of the times.

And then while we're deploying capital into onboard business, we also had to think about now integrating a team, 60 people team out of Toronto.

That really tested us as well.

So think about some of those pieces.

The key lessons here when you do an acquisition which is more than 20% of your ARR, it's going to test you.

You almost need to hire execs ahead of that transaction.

When you go from a founder-led organization and you try to digest that company, you'll have to change the incentive structure very quickly.

The founders will likely make good money.

Their way of thinking will adjust.

They need a little time to adjust to the new context.

But think about this.