Blake Janover @jeff-lazcano we aren't in the same business as alpha flow who, as I understand it, is creating a secondary market to sell loans. We are in the business of connecting the borrowers and lenders before lenders sell loans. Fix and flips is a pretty cyclical market and hard money isn't currently our business but we do have opportunity to grow into those markets. The size of the markets we are addressing are substantially bigger. Conventional multifamily, commercial property and business finance... trillions of dollars in unpaid balances and we have plenty of opportunity to grow in there. I hope this was helpful!!

Blake Janover @christian-lopez-1 thanks for the thoughtful questions and I'm glad you're considering us. I'm not sure how this slipped through the cracks as I generally reply in minutes vs days, but here we go.

1. Rev share and referral revenue are two sides of the same coin. In both cases lenders are paying us for closed business, so you could say 50/50, or 100% but we're really saying the same thing in both contexts since rev share is generally paid up front and not over time.

1a. Building on the above, some lenders pay us a flat fee, say 1%-2% of the loan amount, and others pay a % of total revenue they earn between origination fees and secondary market sales (generally 50%). It doesn't scale down on loan size so much on product type. For one-off type loans, we earn less per transaction whereas for programatic type products that are securitized, we earn more.

2. We are currently north of $1.5MM in revenue YTD.

3. I'm not sure which ones no longer list Janover Ventures, but I can tell you our team is our team. We are primarily remote and distributed although we've seemed to cluster around Boca Raton, FL and Kiev, Ukraine. We have full time w2 staff, international full time, part timers, contractors, and up workers. The model allows us to be highly fungible and move quickly with multiple specialists instead of one or two generalists. If you'd like to DM me regarding any employment concerns, my messages are open. I'll check the Team chart and see if we need to make any updates (this was created and listed about 6 months ago).

I hope these answers were helpful and I'm happy to clarify more deeply on any you'd like.

Blake Janover @alan-jacobson thanks for the compliment!

1. Our Moat: Our moat has some features that are extremely difficult to duplicate and that can't be purchased with money. First; we own the first page of Google for hundreds of search terms (maybe thousands) that are very high value for us. It is so hard to duplicate search engine dominance that we struggle to build sites, using our own strategies, to compete with existing sites. We had more than one million visitors in the last 12 months -- in our business, that's a BIG number. Second; data. Because we have this huge user base, traffic and lead flow we have a data set that cannot be duplicated and how we analyze and monetize it is similarly proprietary.

2. Moat part 2. The most difficult part of our technology to duplicate is data related. Anyone that copies anything that we're doing (and in this case I think you're talking about some big commercial lender trying to get into the software business, which is pretty difficult on its own), will be behind us, because we, again, are able to make data driven decisions that they cannot make (because we own the data and the user interactions).

Finally, in the same vein as above, we have distribution. Large scalable distribution across organic search, social media, email lists, etc.. So our data moat will continue to grow.

These are my perspectives on your question. I hope they're helpful.

Blake Janover @alan-jacobson thank you for the kind words. to answer some of your questions.

1. Exit strategy: our end game will ideal be an IPO or acquisition (there are a lot of really good fits on the acquisition side and that was before the advent of the SPAC generation). Dividends aren't a strategy for us. We hope that we would be the best possible stewards of capital and deploy it for a better return than investors could (otherwise why invest?).
1.1. There are a lot of considerations to get to that goal of an exit but the short answer is fast, responsible revenue growth with scalable infrastructure and an insurmountable moat of data driven software and SEO.
2. We rolled out our IQ2 front end in Q3 I believe and we have merged the names of our last two tools that were slated for Q4 and we expect to roll out the full portal at the very tail end of Q4.

Thank you for the very thoughtful questions and please let me know if you have any others!

Blake Janover @robert-lembach thanks for the great question! I’d like to clarify by saying SAFEs dont just convert into shares (or in the case of LLCs, membership units), they also convert into cash. The events in which a SAFE would convert into cash , membership units, or otherwise are described within the safe but they include a sale of the company or going public. As an aside, we are in ongoing conversations about the eventuality of converting to a DE C Corp in which case we would be talking about shares vs membership units. All that said, we’ll be working very hard in service of our investors and our clients. I hope this answer was helpful.

Blake Janover @matthew-weber-1 thanks for the question! We (and our team) are small. We haven't gone too crazy about titles but we have folks wearing the CTO and product manager hats. As we raise and grow we will expand our team and with it titles and positions. A big reason for this round is to accelerate the growth of our team. As far as out of US or in US... I'm agnostic as to where people live as long as there is a few hours overlap in timezone. This isn't a material factor for most positions. Wonderful, talented people live all over the world. We have a big pool to choose from.