The Good and Bad: 5,000 Leads from Salesforce & $15m ARR Later

“with me and for context this was 2018 so you were sub you said sub a million of were 300K 300K of AR yeah okay got it so I mean so you were able to buy the how much equity did you have to buy that did they own 60 something okay so it's a lot I mean so we talking like a 100 Grand or like a million you had to come up with closer to 100 closer to 100 yeah but remember this is like bootstraps like to my name I had like 130k yeah well midpoint there is 600k so if we say closer to a million it be lower end yeah I'll tell you whatever”

“strategy there you know percent of gmv um our like okay so we're we're coming up on 17 million we've got like 16.9 now our stripe Revenue share is like million and a half AR um but of that customers don't see any of that that's that's just from us processing card volume and we Salesforce world is used to sorry sorry when you say 1.5 you're saying 1.5 million is what you paid to stripe as no no that's what they pay us okay that's what your customers”

“contractors fulltime so there's about 100 currently and we're adding another like five six seven now something like this very cool well it's it obviously scales one of the ways you've scaled and added critical talent to the team is through you know opportunistic m&a uh walk us through when you did your first m&a deal and you were kind enough to actually share the real Loi or at least a chunk of it the real Loi when you acquired a company called PCY why this company uh it was a single developer company he was a friend when you have a payments app being PCI compliance”

“was cheaper than what it would have been to go out and raise a big Equity round yeah I mean how did you do that analysis so so I still have 60 2% of the company and employees have 15% and then friends and family 5% and the rest is with some big stuff um but the reason I wanted to dive deeper there that there was some heartache uh Jason calak says 5% I went through the launch accelerator okay I understand it let's move on I they were”

“Blackthorn Growth”

“TAM FOCUS: Non-profits”

“Deal Terms $3.25M, a 6x multiple on $550K ARR $1.2M Down payment $2M over 24 months, paid quarterly Funded via debt, no dilution High Level Reasons Surveyed customers wanted SMS Buy instead of build, no integration work I reached out to Clint The revenue helped NRR Why I bought Textey”