The ECRS employee stock ownership plan will initially own a 30% stake
Pete Catoe · 1447 $30m ARR Company Is POS For 4000 SMB's · Jul 11, 2019 · at 16:32
Pete Catoe is the founder and CEO of ECRS. He explains the planned equity breakdown of ECRS's transition to an employee stock ownership plan.
0:00 / 0:21exact quote · 21.8s
720p mp4 · rendered on demand · StarZero watermark
“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 further in the end.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Pete Catoe
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.”
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 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.”
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.”