The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 11 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
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.”
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.”
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.”
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.”
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 bootstrapped ECRS to $30M ARR with $7,000 in capital
“The company was bootstrapped. I think we started with like 7000 dollars.”