Tim Schumacher

So every deal has lots of components, different complexities.

And sure, we have different building blocks, but we can work with all of that.

And it's important that the founder is happy with it at the end of the day.

And that's what we're trying to strive for.

Yeah, eight or nine X is very rare.

I think we did this one on a very small deal, which had strategic importance and was growing very fast.

But usually, yeah, two to four is pretty accurate.

There's some a little lower than that.

There's some a little higher, but majority is really at the two to four.

That's the core difference.

If you would go to a private equity company, they would take a significant minority or a majority and then they would flip the company three years later after they've done hopefully some improvements.

And their money comes from the improvements plus the leverage and the deal structure.

In our case, because we want to operate it forever, there's no resale to a sale.

So it doesn't make sense to only do a portion.

So we always buy 100%.

There are some structures where we can keep an upside for the founder, but that's then done through a bonus or an out structure, not through a 40, 60 share or something like that.

so scraper api has been great the scraping service it's really great product uh rewardful.com is great is a is a super simple affiliate uh program management tool for for companies operating on stripe and paddle um so yeah rewardful probably is the the fastest growing

ever.

Prerender is great.

It's the prerendering software.