Pete Catoe

Founder & CEO, ECRS · 1 appearance on the record.

computed by AI from the episodes · how this works → · full disclaimer →

founderexecutive

In 1989, Pete Catoe founded ECRS in Boone, North Carolina, bootstrapping the business into a provider of retail automation and point-of-sale software. As chief executive, he expanded the self-funded company to serve thousands of independent grocers, retail chains, and supermarkets across North America.

11statements → 7claims → 0claims resolved → 3.36/5average certainty → 1.27/5average debate potential →

7 not checkable as stated how the 7 claims stand · each chip opens the sources

1 prediction · 6 assertions · 4 disclosures · every statement was checked. The prediction and assertions are the 7 claims: statements the public record can support or contradict. 0 are resolved, and 7 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Pete argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Pete Catoe on measured tape to publish a rate. This says nothing about how they speak.

What they said11 Episodes1

Everything Pete Catoe said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Disclosure

Pete Catoe plans to transition his 100% ECRS ownership to an ESOP

“Right now I own the company. I own a hundred percent of it. And but we're going to be shifting to an ESOP over the next 24 months.”

Pete Catoe Jul 11, 2019 ▶ 15:03 1447 $30m ARR Company Is POS For 4000 SMB's

Assertion Not checkable as stated

ECRS experiences insignificant revenue churn and 2% logo churn annually

“So if we would probably lose two, two percent, maybe. Not revenue. Two percent of customers. I don't know what the revenue number is. It's insignificant.”

Pete Catoe Jul 11, 2019 ▶ 9:18 1447 $30m ARR Company Is POS For 4000 SMB's

Prediction Not checkable as stated

Pete Catoe predicts ECRS will reach $100 million ARR by 2024

“I think it's going to be, it's going to take us over the next five years. We will hit a hundred million.”

Pete Catoe Jul 11, 2019 ▶ 13:39 1447 $30m ARR Company Is POS For 4000 SMB's

Assertion Not checkable as stated

ECRS has 4,000 customers and generates $30 million in annual revenue

“So our company, we have around 4000 cut customers. We generated around thirty million a year.”

Pete Catoe Jul 11, 2019 ▶ 4:57 1447 $30m ARR Company Is POS For 4000 SMB's

Assertion Not checkable as stated

Software and recurring services account for 90% of ECRS revenue

“Yeah, there's professional services in there, there's hardware sales in there, but most, about 90% of it is software and software licenses and services.”

Pete Catoe Jul 11, 2019 ▶ 5:34 1447 $30m ARR Company Is POS For 4000 SMB's

Assertion Not checkable as stated

ECRS grows in 30% jumps followed by multi-year flat periods

“We just, we'll, we'll flatten out for a few years and then we jump up 30% and flatten out again and jump up.”

Pete Catoe Jul 11, 2019 ▶ 8:16 1447 $30m ARR Company Is POS For 4000 SMB's

Assertion Not checkable as stated

ECRS customer acquisition costs run around 25% of initial contract value

“I think our sales calls are probably running around 25%, you know, to sign a customer up.”

Pete Catoe Jul 11, 2019 ▶ 11:00 1447 $30m ARR Company Is POS For 4000 SMB's

Disclosure

The ECRS employee stock ownership plan will initially own a 30% stake

“We'll probably move to a 30% ownership where they'll have 30%. And so the ESOP will own 30% of ECRS and all the employees will, as we grow the value of the company together, of course their shares will grow as well. So they'll start at 30%, but it'll go furthe…”

Pete Catoe Jul 11, 2019 ▶ 16:32 1447 $30m ARR Company Is POS For 4000 SMB's

Disclosure

Pete Catoe bootstrapped ECRS to $30M ARR with $7,000 in capital

“The company was bootstrapped. I think we started with like 7000 dollars.”

Pete Catoe Jul 11, 2019 ▶ 6:12 1447 $30m ARR Company Is POS For 4000 SMB's

Disclosure

ECRS has 150 employees with 80% based in Boone, North Carolina

“We have about a hundred, we have a 150 employees, a 150 plus employees you know, probably, I don't know, we're adding someone every week, it seems now. And I would say 80% of them are based in, in Boone.”

Pete Catoe Jul 11, 2019 ▶ 6:58 1447 $30m ARR Company Is POS For 4000 SMB's

Assertion Not checkable as stated

ECRS revenue grew approximately 10% in 2019

“I think we're up this year. We're up like 10%.”

Pete Catoe Jul 11, 2019 ▶ 8:10 1447 $30m ARR Company Is POS For 4000 SMB's

Appearances (1)

Episode	Date	Speaking time
1447 $30m ARR Company Is POS For 4000 SMB's	Jul 11, 2019	10m

Pete Catoe

The record, in short

How they sound: not measured why? →

Appearances (1)

Turn any episode into a week of clips.