Q So that begs the question, right? Why do a secondary, you could have maybe, I mean, you really need to have like one 21 40 in ARR to have a, you know, a good IPO these days, but why not IPO instead of doing a secondary with TCB?
A Yeah. I mean, absolutely. When, when you're the rule of, I think we're world one 20. So, so we are not a company that needed the money to fund operations. We're a profitable, high growth company. And an IPO. Yes, absolutely. That was, uh, we could have done that. Um, but I tell you, we, we, we see the opportunity to build a company that is, you know, really the platform for identity, which really it's a, it's a multi multi-billion dollar company. And the ability to, to listen, there's a lot of private capital available and the ability to operate a company, not under the scrutiny of a public market, not to be a sub, I don't know, subscale public market company. You got a lot more latitude to focus on the business versus focus on a lot of other investors. And it's a lot easier to run a company if you have a couple investors that share in your thesis and are working alongside you than to have all the overhead of running a public company. I've run a couple of public companies and, and it is very, very different than, you know, having one smart investor that wakes up every day and cares as much about your business as you do is very different than having, you know, 20 or 30 or 40 or thousands of public company investors.
AI assessment note: “ability to operate a company, not under the scrutiny of a public market”