It’s the most likely exit strategy, and there are really two reasons for it. One, we’re a private company with $6 million dollars. The next exit is going to have to be at a meaningful premium to that in order for our investors to make the kind of money they want to make out of this transaction, and, to be frank, for my management team to make the amount of money we want to make in the next phase of the company’s growth. The valuation is going to be very high by the time we get to the point where we’re ready to go public. We’re going to have revenues probably in the billion-dollar range at that point and be delivering $550 million or more in cash flow. Our valuation is going to be high.
Also we’ve got a unique business model, one where we go to market in a very different way from all of our large competitors in this space. In order for someone to buy us, they’re going to have to be big, they’re going to have to have a lot of capital, they’re going to have to embrace the uniqueness of our model, and they’re going to have to be a brave enough to know that our model will potentially commoditize and infect the rest of their business. That company might be out there, but it’s more likely that we end up going public again.
Click here for the interview with Boro from Thoma Bravo.