IPO

“I think you have to be a hundred and fifty million AR right now.”

“Look, because the IPO, you're also trying to build a brand for yourself. Nobody knows you as a company or as an executive. So if you do a modest IPO, you got to price it. So there's some wealth for the new buyers. And as they do well, they get a sense. You do …”

“Although the markets were tough in 2016 the worst year since 2002 in terms of IPOs and also private placement.”

“If you look at the service, it's a trusted service, right? You trust them to hold the signing process for very important contracts and documents and sales agreements, right? That lends itself to, Hey, I'm a public company. I'm under the scrutiny of all that. I…”

“That's more for marketplace legitimacy. It helps customers feel much more confident that you're around for the long term. You're not just going to get tucked in somewhere.”

“You know, an organized secondary with perfect execution, maybe within the first six to nine months would get out maybe the invested capital but it wouldn't get out their profit. And so, you know, the truth is the timing of liquidity for early investors that wo…”

“And it's one of the reasons why our midterm business goal a realistic midterm business goal would be eventually to be a public company.”

“I think if you've ever taken a company public, you know, you're really beholden to the whims of what's happening during that two week period that you go public.”

“If we, if you think about the world today, then, you know, doing secondaries is definitely a way to push it further out.”

“The best I can come up with is that there's three reasons to IPO, which is you know, need for capital, and you think it's better in the public market than the private market. We don't have that dynamic right now. And then I've been told that the second one is …”

“You know, it wouldn't be a shock if you see the company taking steps toward that in 2019.”

“We think that, you know, in order to do You know, a nice sizable IPO we need approximately two, two and a half years.”

“So we are not buying out other VC funds. We're not, the pitch is to the, to management is not, Hey, We're investing in your company and thus it could delay an IPO. It's actually quite the opposite. We're actually going down a level or two and going and buying …”

“I think, you know, an IPO is more kind of like what the team wants to do and what I would like to do. We've built the company for the long run. So it's not about, you know, get into some stage and get out.”

“So you can't, you know, 200 is a new 100.”

“I love the idea of being a public company at some point, but I don't think it's in the near term for us having just raised that round. I would think you know, we've got. 24, 36 months or something before we'll get real serious about thinking about that.”

“IPO is the goal. Like no matter how stupid that sounds, like that's where we're going.”

“All of our financial projections have us with the possibility of taking this round to be the last round. Now that doesn't mean we might not raise again, depending upon the market.”

“I don't think we would look at filing at that level when we were, if we were there and want to do that, I think it'd probably be one 41 50 where you start having this conversation.”

“200 is a new 100. So you can't, it's no longer a hundred... That's what Goldman is telling everybody.”

“I think, you know an IPO is more kind of like what the team wants to do and what I would like to do. And, you know, we've built the company for the long run, so it's not about, you know get into some stage and get out.”

“You've got to get to a hundred million with rule of 40 at a hundred million for you to really be on, you know, a potential IPO path.”

“So who knows what, when we'd be able to IPO, I would say likely in the next two to three years, but probably closer than we're at two hundred million ARR versus a hundred.”

“I think air call is potentially a great IPO candidate in 20, 24, over one hundred and thirty million dollars of revenue.”

“The testing the water is you're talking to investors, and when you talk to the investors, if those investors don't come back and tell the banks, hey, we're really excited about investing in this, the banks go, eh, I don't think that there's an IPO here to be d…”

“Thinking about the kind of the story of timing and the metrics, but you got to start early, because it still takes often like two years to actually get ready.”

“Well, something that was non-intuitive is you want some of the investors who are actually going to hold for the long term, but you want some investors who are absolutely not going to hold for the long term, and part of the reason you don't want them to hold fo…”

“When we were on the roadshow, every single solitary conversation was, hey, how can you spend more money To grow faster. That was the only thing anybody cared about. Our very first earnings call, which was like two months later, nobody was asking that. You know…”

“I think bootstrapping is actually, in many ways, a better way to get to be a public company.”

“Well, you're not going to go, well, right now, if you look at threshold for IPO, you're at like three, four hundred million.”