Stephen Schneider

They have 20 locations, but each of those locations, they charge millions of dollars for.

So we don't really need a lot of locations.

So it really varies.

Got it.

Okay.

Put this on a timeline for us.

When did you launch the company?

So the company was founded in 2003, actually, and it was founded as more of an application development framework in the kind of business intelligence space.

But it really didn't start growing until about 2010.

It was a bootstrap company.

It did not have a lot of resources to spend.

So it was, you know, three to five million dollars of revenue working with customers that came in through the Web with very small transaction sizes, five to ten thousand dollars.

And in 2010, that's where we really kind of found our niche of working with application teams.

So again, principally software companies, but often enterprises that look like software companies.

And that's when we started growing.

Yeah, so let's talk about that for a second.

So we are not a SaaS business, okay?

Let's talk about what that means though.

We often work with companies that are SaaS companies to embed within their application, but our software is deployed.

Up until about 2010, and actually really until recently, and really about the 2015 timeframe, about half of our business was perpetual.