We're Not Going Anywhere :)

Where is this company going? What are your long-term plans? Do you want to sell Rundoo?

The first time a retailer asked me these questions, I was a little taken aback. Most questions we get are about ROI, the switching process, or specific features. But over time, I've come to learn that these are very reasonable questions, and that some prospects actually feel sheepish asking them. It feels too personal, so even though it's on their mind, they won't bring it up.

I want to start by validating the question: I get it.

Why it's a fair question

Your POS is the technological bloodstream of your business. It captures information and gets it to the right place. You need to know that the company behind it is stable, that it isn't going to suddenly disappear and leave you in the lurch. This is true of any key vendor: you should make sure your biggest suppliers aren't going anywhere and that their strategy aligns with yours.

The second reason is unfortunately specific to the industries we play in. Almost all of our competitors have been acquired by conglomerates, and when they acquire, the same playbook runs: support moves overseas, product innovation stops, prices go up, and the service starts deteriorating. It has happened again and again and again. So if you're a little guarded when a new software company shows up and asks for your trust, I completely understand. You've been burned before.

Though we're still asking for a leap of faith, my hope is that this article eases that anxiety.

We have no intention of selling

First and foremost, Andrew and I have no intention of selling the company. We have received multiple acquisition offers in recent years. Though flattered, we didn't entertain them and don't plan to entertain any. We both love doing this and are grateful to see many working years ahead of us. We want to keep growing our impact during our limited time on earth, and Rundoo feels like the best way to do it. Importantly, as we have raised capital from investors, we have maintained veto rights on any acquisition, and we plan to only accept capital that lets us maintain those rights.

Your businesses inspire us

If I had tons of money, this is still what I'd want to do. We help hundreds of families of entrepreneurs grow their businesses as their key technology partner. These businesses in turn employ thousands of people and support millions more in their communities. It is a responsibility and opportunity we adore, and we don't want to stop.

What makes it even more meaningful is the durability of the businesses we serve. We work with stores that have been in the same family for two and three generations, stores that survived recessions, big-box expansion, supply chain disruptions, and natural disasters. That kind of longevity doesn't happen by accident. It happens because you care deeply about what you do and the people you serve, and because you make decisions with a long time horizon in mind. We want to build something like that. The supply store industry thinks in decades, and we think that's the right way to think.

We're in good financial shape

Second, we are in good financial shape. We have raised venture funding (and may continue to do so!) specifically because we see a large opportunity ahead of us. However, our core business model makes money, so we can switch to profitability whenever we want. We aren't selling $1 for $0.99.

It comes down to trust

So many business relationships come down to trust. When a customer buys a product at your store, they trust it'll help them with their project. When you hire an employee, you trust that they can do some independent work; otherwise, what are they really doing for you? I know that you are taking a leap of faith in putting your trust in us. You aren't an expert in technology, and you want a partner that is committed to your success for the long term.

Andrew and I feel that way. We're not going anywhere.