ETA Unicorn: $1 Billion in Revenue in 5 Years

It was just a Holdco with me and Steve Nicholson. Eventually we had to hire a cfo and eventually we had to hire operations people. And then it's just, it's evolved from there.

You hit $10 million in EBITDA after a year and a half. When you unlocked this model, that was the goal. You probably were emboldened by the fact that you hit it so quickly.

You can build this thing to really a, you know, a multi billion dollar business. And you already have, you're at only single billions, but you could get to multi.

That's right.

So, so perhaps all of that is why you decided to keep going. But the question is why, why not? Did you consider actually exiting when you hit that $10 million EBITDA number after only a year and a half?

I remember meeting and talking with Spencer and saying, Spencer, I think we have something special here. He's our partner at Peterson Partners.

Yeah.

And I remember telling him, I think we have something special here because I at that point was literally flying every single day all over the country. And I was in offices, I was seeing companies. I knew enough to be dangerous from running the first business and working with our partners.

And then we, you know, had a few others and I felt like we had something special to offer and we were, we, it was working. Our conversations of how what we wanted to do was really working. And I felt like we had something special.

And so quickly we moved the target to 20 or 30 of EBITDA and. Peterson put some more capital to work for us. They committed more and we, we went to work on this, on this Holdco model at the time.

And so. It was such a short period of time. It was like, oh, we can't we can't just get out of it now. That would be such a shame.