Kickfin is a gratuity management platform for hospitality. It's time to automate your tip distribution process with Kickfin — and kick cash to the curb. 8 Customer Service 4. The net profit margin for the restaurant in this example is 40%. Overview; Franchise Restaurants; Multi-location Restaurants & Hospitality Groups; Independent Restaurants; Pizza & Other Delivery; Cafes & Bakeries; Bars, Clubs & NightlifeOverview; Franchise Restaurants; Multi-location Restaurants & Hospitality Groups; Independent Restaurants; Pizza & Other Delivery; Cafes & Bakeries; Bars, Clubs & NightlifeAt Kickfin, we get it. Overall, 95 percent of all businesses suffer from theft in the workplace. 9 (117) Ease of Use 4. Make referrals. Distributing tips through payroll offers a streamlined method for employers to manage employee tips, ensuring proper taxation and record-keeping. Competitive hiring advantage. 0. These include: Posting an official OSHA poster that notifies employees of their rights under the OSH Act and a list of the owner’s obligations. And head’s up — the tip credit can still apply when your employees are earning. Chris said the software has proven to be reliable and trustworthy. Let's get started! Kickfin makes tip pooling & payouts easy. Let's get started! Kickfin makes tip pooling & payouts easy. 3w. (Keep in mind, though, that the state of the assets will likely be reflected in the. He sat down with Kickfin to talk about “NextGen Casual” — an emerging industry segment that everyone in the restaurant biz should be watching. Employees’ tips are safe and accessible in their bank accounts the second their shift ends, 24/7/365. Refer a restaurant. Generate revenue with every referral. Great energy, great people — and a great partnership that will continue to make instant, cashless tip. TipHaus competes with POS giant Toast, which offers a tip pooling and allocation function, and well-funded startups like Kickfin and 7Shifts. Kickfin offers tips, trends and insights. When you attempt to open a high yield investor checking account, the bank will do a soft inquiry on your credit, and you should have at least good credit. For restaurant owners, the consequences of keeping employee tips could bring down your entire business. Most hotels, however, have been slow to jump on the mobile tipping bandwagon. However, it comes with both a fee for delivery and for the cash itself. 2. Earnings go directly into employees’ accounts, the second their shift ends. Leveraging the combined technology of Kickfin and Visa Direct** — Visa’s real-time money movement network — service industry employers can send. Kickfin streamlined tip payment, has prompt support, and simple to use. Employees can set up accounts in seconds, and there’s no learning curve. Kickfin, the Leading Gratuity Management Software, Closes $6M Series A to Fuel Growth Across the Hospitality Industry. Kickfin develops a gratuity management software that provides closed-loop cash management services. Reviewed March 2023. Auditing was easy, and mistakes were rare. $11M. S. Kickfin’s instant tip payments eliminate bank runs, cuts labor costs, and reduces the risk of theft. - Accounting teams love Kickfin: Seamless tracking and reporting for real-time cash flow visibility. Kickfin is a tip distribution solution that helps restaurants, bars, clubs, nightclub venues, hotels and entertainment centers directly deposit tips into employees’ bank accounts. But that’s actually not how it works. Kickfin. Get paid. Implementation is fast and free: Restaurants can get Kickfin up and running overnight — no contracts or setup fees — and save $1,000 a month. If your mission statement doesn’t accurately reflect your restaurant, it might be time to revise some of your operational policies. Net Profit Margin = ($4,000 / $10,000) x 100. Click Employees from the main Toolbar. Franchise fees can vary significantly based on the brand’s recognition, success, and the resources provided by the franchisor, but generally range from $10,000 to $50,000. In contrast, Kickfin provides a digital tip jar service for a 5% fee, plus $0. 2. You can implement Kickfin overnight (literally) — no contracts, no setup fees. Restaurant operators and tech companies descended on Dallas to meet at FSTEC, the premier conference to learn about exciting new solutions for the quickly-automating restaurant industry. Kickfin | 3,632 followers on LinkedIn. Kickfin offers some tips and best practices for optimizing your restaurant's operations. It works great. Claim Offer. Super simple. Why is it essential and crucial for these two leaders to have a symbiotic relationship in today’s market? With technology innovation leading the charge in. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to Kickfin, including 7shifts, Branch, Tip Haus, and Netspend Tip Solutions. 0% of Kickfin work email addresses. Overview; Franchise Restaurants; Multi-location Restaurants & Hospitality Groups; Independent Restaurants; Pizza & Other Delivery; Cafes & Bakeries; Bars, Clubs & NightlifeHere’s why QSRs are enthusiastically embracing tipping, both in-store and through their mobile apps. 30 per transaction. By offering instant payouts, employers can recruit and retain top talent, eliminate cash management headaches, and streamline reporting for. I swear, every time I get pinged to Ruby Tuesday, they have a new ghost kitchen. It sounds unethical as hell, but employers are allowed to pass credit card processing fees onto their tipped employees - I'm not sure if Kickfin's fee fits into that policy or not. For security, we’ll never store your bank details. Other things that aren’t changing (we promise!): Refresh your tip pooling calculator with plug-and-play templates. Kickfin, the Leading Gratuity Management Software, Closes $6M Series A to Fuel Growth Across the Hospitality Industry. Thousands of employers across the service industry use Kickfin to tip out their whole team in 30 seconds — no cash required. Thousands of employers across the service industry use Kickfin to tip out their whole team in 30 seconds — no cash required. Gives managers time back on the. (Also called on-premise or on-sale licenses. “Kickfin stands out from the rest of the tech we’re. Kickfin. It's the same instant, cashless tip payment platform that restaurant teams love — now, more automated, more flexibl. See if the competition offers the features you need, at the price you want. In an increasingly cashless society, this app allows you to continue tipping staff out nightly. For accountants, that brings a new level of transparency to cash management and reconciliation — and that. Kickfin eliminates the need for bank runs, change orders and manually tipping employees by providing retailers and restaurants access to payment and cash management software along with IoT. As a result, they typically have no visible storefront. Make a referral. And unfortunately, the hourly minimum wage for servers probably doesn’t cover the whole tax bill. Kickfin customer. com. No more bank runs: Give your managers hours back into day. Reviewed March 2023. Kickfin is the only way to instantly deposit tips into employees’ bank accounts the second their shift ends, 24/7/365. Download data for accurate, fool-proof reporting. Restaurant and hospitality brands across the country use Kickfin to tip out employees in real-time, directly to their bank accounts - no cash required. Overview; Franchise Restaurants; Multi-location Restaurants & Hospitality Groups; Independent Restaurants; Pizza & Other Delivery; Cafes & Bakeries; Bars, Clubs & NightlifeKickfin. Say Goodbye to the Tip Credit. Kickfin is exhibiting with Loomis US and we'd love to see you. Dismiss. 76. Kickfin 3mo The responsibility to report tip earnings falls on both servers and employers. >2 hours saved, per shift. 80. Off-license: Specifically for businesses selling alcohol to be. When it comes to your restaurant front of house cleaning checklist, staff should focus on disinfecting all high-touch areas, including: Door knobs, handles and push plates. 317 likes · 18 talking about this. Whoa! The benefits for integrating Kickfin are multi-faceted. And for some restaurants, that’s just fine. That’s it. Acknowledge where your staff is at and what they do well…and what doesn’t always hit the mark. Kickfin is the only way to instantly deposit tips into employees’ bank accounts the second their shift ends, 24/7/365. Overview What is Kickfin? Kickfin is a gratuity management platform for hospitality. Kickfin is the only way to send tips directly to your employees' bank accounts, 24/7/365. "KickFin is a hit with employees!" Pros : KickFin is easy to use, and the employees love getting their tips immediately at the end of the night. 3,633 followers. Costs. We sat down with Steve Green, founder and publisher of PMQ magazine, to talk about the reasons behind independents’ success last year — and how they’ll continue to take off in 2023 with the help of new tech. AUSTIN, Texas (June 23, 2022) — Kickfin, the leading gratuity management software for hospitality, today announced it has secured its Series A funding to further accelerate the company’s rapid growth. Tip credit minimum wage: 10 hours x $5. Employees can expect to receive. Kickfin is a platform that solves these challenges by enabling instant tip payments directly to employees’ bank accounts. Under the Category column, enter Undistributed Tips, then type in the amount under the Amount column. With a few clicks, tips are instantly deposited into employees’ bank accounts. All content is posted anonymously by employees working at Kickfin. Because, sure: industry articles and reports are great…but really, we all just want to know how the other guys are doing it. 4 x 100, or 40%. Get a demo. Know a restaurant or bar that needs Kickfin? Make an intro! You’ll get a generous bonus for every location that starts using Kickfin because of your referral. Kickfin 2. 4. Read MoreADP X Kickfin! 🙌🏻 It was an honor to sponsor ADP's Franchise Sales Kickoff this week. Tip distribution software for the hospitality industry Get Price Compare save ( 10) App Info Pricing Features Reviews Alternatives Integrations KickFin Reviews Overall rating 4. Overview; Franchise Restaurants; Multi-location Restaurants & Hospitality Groups; Independent Restaurants; Pizza & Other Delivery; Cafes & Bakeries; Bars, Clubs & NightlifeKickfin does. Restaurants use Kickfin to send tips directly to employees’ bank accounts, 24/7/365. m. The servers like it as well. Kickfin, Austin, Texas. A digital tipping platform allows you to tip out your servers, bartenders, and other hospitality staff without the hassle of payroll tips, bank runs or bill-counting. If Kickfin had a system to upload those that would be great. If you’ve decided that tipping out on payroll works best with your business model, you’ll need to set yourself up for success. I've been looking into it briefly, trying to find documentation about that sort of fee, and I'm not seeing it. Super simple. But, first off, restaurant closures are not predictive of economic trends — they’re kind of a reaction to them. MYTHBUSTERS: Digital Tipping Edition🕵️♀️ After onboarding thousands of customers to Kickfin, we tend to hear a lot of the same questions and misconceptions. AUSTIN, Texas (June 23, 2022) — Kickfin, the leading gratuity management software for hospitality, today announced it has secured its Series A funding to further accelerate the company’s rapid growth. Total tips = $1000. 3,677 followers. Compared to other industries, hospitality will likely never see “low” turnover rates; the nature of the job lends itself to somewhat consistent turnover. Menu development and pricing. Read more to learn some restaurant management tips:A profit and loss statement provides a record of a restaurant’s financial health by outlining revenue, costs, and expenses during a set period of time — usually over a fiscal year, but it can be more frequent depending on your management style or if you’re part of a public company. Kickfin is a platform that solves these challenges by enabling instant tip payments directly to employees’ bank accounts. The estimated base pay is $69,478 per year. Cut the liabilities and hidden costs of cash— and help your clients strengthen their hiring efforts. Now we aren't carrying nearly as much cash. Magnuson founded the company after discovering that. Tip pool amount is divided by total hours worked. Browse all. Assistance with franchising. KickFin is a reputable software platform that ranks 31 among all POS Software according to our research analysts and 80 crowd-sourced reviews from 2 sources. In contrast, Kickfin provides a digital tip jar service for a 5% fee, plus $0. By offering instant payouts, employers can recruit and retain top. , housekeeping — and gives guests the option to simply click a link and instantly send a tip from their phone. KickFin can be deployed in the cloud. ADP X Kickfin! 🙌🏻 It was an honor to sponsor ADP's Franchise Sales Kickoff this week. Note: If Bluebird or Serve show as working/not working then this will be the case for Redcard/Redbird as well. One of the biggest benefits of buying an existing restaurant is that it will already come with the equipment you’ll need to operate the business, as this is a costly and time-consuming expense. With Kickfin, your guests can send instant, mobile tips to valet drivers, bellhops, housekeeping, and guest services staff through Kickfin’s Text-to-Tip ™ technology, or via QR code. Bonus: you'll recruit (and retain) top talent by giving employees instant. The restaurant industry has had a rough go of it since COVID-19 hit. The IRS requires every tipped employee to report those tips to their employer. During the Covid-19 crisis, more people are paying online or with credit cards. Kickfin is the only way to instantly deposit tips into employees’ bank accounts, 24/7/365. Make money. Kickfin's Vice President of Operations, Larisa Thomas, joined a panel discussion at the Customer Service Lab, where they explored the theme "AI in CX: Applications and Impact on CX Tech and Teams. Kickfin's top competitors include Instant Financial, Tiphaus, and Branch. Kickfin CEO Says Digital Tipping and Instant Payouts Help Restaurants Fight Economic Headwinds March 08, 2023. 0 also validates login emails and/or phone numbers and requires them to be unique. Have not encountered any issues with the program, although tightening up on security for a 2 step verification payment system perhaps one for owners and one for management could decrease the amount of theft possible. Our product team has built a platform that takes security insanely seriously — in fact, it’s our number-one priority. So we’re spotlighting people like you, who are in the trenches day in, day out. The Act created a $28. Kickfin is the largest enabler of real-time, cashless tip payouts. Other tip-out solutions (from payroll to pay cards to plain old cash) are costing you and your employees. Select Schedules and Role (s) for wage to apply to. If your restaurant is not in compliance, it could result in high fees from banks, credit card companies, and other merchants. m. Overview; Franchise Restaurants; Multi-location Restaurants & Hospitality Groups; Independent Restaurants; Pizza & Other Delivery; Cafes & Bakeries; Bars, Clubs & NightlifeGet the Kickfin edge with the only multi-channel tipping software that gives hotels the power to manage F&B and hotel staff, all in one place. Payroll companies that become Kickfin Affiliates will receive a referral fee for every restaurant location that starts using Kickfin because of you. Build your own POS package tailored to exactly what you need, and enjoy a more flexible contract. Enter: digital tipping software. ) This is the type of license that a restaurant or bar needs to obtain. Option 1: Support Portal. Tip pool math is hard. Instant Financial provides a platform for earned wage access. 4. Kickfin offers some tips and best practices for optimizing your restaurant's operations. learn more. This is the Kickfin company profile. Example : separate boxes for cash tips, credit cards, service fees, etc. Kickfin is the only fully integrated, enterprise-grade cashless tipping software. Dismiss. The better option is an instant, digital payment platform. The Kickfin fam is growing by the day. His experience with owners and industry leaders makes him a goldmine of information for emerging. Hire more workers: Pay your people the way they want to be paid — instantly and digitally. If your customers complain about your breadsticks, cut them. Kickfin, for example, can be deployed directly into POS or ERP platforms or, if a company prefers, in an unintegrated fashion so the solution can be used right away. Gratuities appear in their accounts right away. It enables managers to create groups, manage employee profiles and approve tip amounts for staff members. Kickfin keeps their account sufficiently funded day to day. "KickFin Review 2023. Another issue is understanding fluctuations in menu pricing and projected average checks. CIO/CTO. 1. Very easy to use. When it comes to tip payments, cash isn't king. Kickfin is a fintech company that provides payments and cash management software alongside IoT hardware to restaurants and retailers to enable them to eliminate the need for bank runs, change orders, and manual tipping employees. Kickfin General Information. The panel included CBP Host Andrew Copolon, PK Agriwal of Beer30 , Dan Hornbrook of BrewLogix , Ian Purcell of BarTrack , and Ian McHarg of Country Malt Group . Everyone’s talking about automation, but it’s not always affordable or easy to implement. “The idea sounded great: they still get paid every day, it goes straight to their accounts, any time of day or night. Which means that every person here makes a meaningful impact on our product, our customers and the. Kickfin is a fintech company that provides payments and cash management software alongside IoT hardware to restaurants and retailers to enable them to eliminate the need for bank runs, change orders, and manual tipping employees. Jonathon Mitchell is a Vice President, Sales at Kickfin based in Austin, Texas. By removing cash from the tip payment process, businesses can focus on delighting their customers — while. In all, Kickfin uses 3 work email formats. 0. Communicate the change — and the why behind it. Competitive landscape of Kickfin. Every Kickfin customer now has 24/7 access to the Support Portal, which includes: Articles and frequently asked questions. consumers order groceries online, and it's become key for marketplaces to support instant disbursements. Brands like Marco’s Pizza, Applebee’s, Walk-On’s and more use Kickfin to send cashless tip payments directly to their employees' bank. This eliminates the risks and hassles associated with handling cash and ensures accurate, real-time tracking and reporting of tips. Cons. See why restaurateurs across the country choose Kickfin. Every person here, regardless of department or role, supports each other, challenges each other, contributes ideas, and asks questions. Make sure when you’re training your employees that you include a session on. com). Make a referral. Our friend Stephanie O'Rourk, CPA of CohnReznick LLP shares the top. Could be helpful to have the option to show multiple forms of payment being included into a tip pool. Edwards told Webster that from a payments standpoint, Kickfin stands among the money mobility firm’s fastest growing clients — and the restaurant industry and this use case, he said, is the. AI is kind of having a moment right now. Kickfin CEO Says Digital Tipping and Instant Payouts Help Restaurants Fight Economic Headwinds March 08, 2023. Not every establishment can afford to keep pushing wages higher and higher. It's unsafe, it's prone to human error, and it's incredibly time consuming. Compare the best Business Software for TabaPay of 2023 for your company or organization. Hours worked. In the Disbursements. Multi-payment options for guests: Apple Pay, Google Wallet or. Make money. Ease of use, convenience for employees to access tips and easy record keeping. Banking transactions are cumbersome to enter into our accounting system. $1000 tips / 5 employees = $200 each. Fill up the other fields as necessary, then hit Save and Close. Many restaurants are attempting to reduce the amount of cash on their premises, as it harbors hazardous germs. That’s why, every day, we work to propel the hospitality industry into the future — removing the obstacles that constrain efficiency and the hurdles that make it harder to do a job well done. Kickfin is a tip distribution solution that helps restaurants, bars, clubs, nightclub venues, hotels and entertainment centers directly deposit tips into. ” Industry insiders provide insight on how the industry has been doing and where they feel it. RATING: ( 117) Overview Reviews Comparisons Alternatives Review Highlights Overall Rating 4. Back. With an account : Accept the Kickfin invite and add locations, determine the pre-fund amount and eployees enroll in seconds via text or email. Customer experience pioneers Upwork and Kickfin are among the first customers to engage with the new SupportGPT™ product. Kickfin customers have saved $1,000 a month because they're able to: Stop rounding up to the nearest dollar Cut labor costs Eliminate theft and skimming" Scummy practise from the employer in my opinion. WalletHub. The net profit margin can be calculated as follows: Net Profit Margin = (Net Profit / Total Sales) x 100. If total tips earned in one shift is $792, the value of a point is (792 / 72), or $11. But that’s actually not how it works. 25 per hour and allow employers to take up to $5. Bottom line: digital tipping should make your life easier, and that includes implementation. Option 1: Support Portal. This means that the relative tip percentage is 10% for the barback job and 90% for the bartender job. The KikFin is a groundbreaking innovation for surfing and stand-up paddleboarding (SUP). It’s not just about wages. Log in to our new support portal with your Kickfin login. It’s basically impossible to scroll through a newsfeed without stumbling across an article (or 10…) about the rapid developments we’re seeing in AI technology — and all of its benefits, risks, and mind-blowing potential to change life as we know it. S. | The leading gratuity management solution for hospitality. 🚀 Meet Andrea A. . 4 x 100, or 40%. Launched by Uber co-founder and former CEO Travis Kalanick, CloudKitchens is an international network of ghost kitchens with over 40 locations. Fewer costs, less hassle, and more time back in your day — starting day one. Read on for great insights from. That’s why, every day, we work to propel the hospitality industry into the future — removing the obstacles. The. Kickfin cuts out time and extra fees so that gratuities can go straight to workers’ bank accounts—no waiting, no detours. PCI compliance ensures that this info is protected at all times. Make a referral. Case management, where you can open a new support request or view an existing one. That’s it. Of course, like any piece of legislation, the RRF comes with a lot of fine print. Kickfin was founded upon a simple truth: When the hospitality workforce has financial freedom, everyone wins. Workplace safety practices and insights. Try Kickfin for free — no strings attached. Tips are instantly sent straight to employees’ bank accounts — where cash tips would end up anyway — saving managers and employees time (and reducing labor costs). He is a natural leader who works harder then anyone I've ever worked under. If. A. Tip payments will always go straight to your employees’ bank accounts — no matter where they bank! — the second their shifts end, 24/7/365. Once your restaurant or hotel signs up: The short answer: Yes. By signing up. [last] (ex. Kickfin can sendcashless tip payments directly to employees' bank accounts, at the completion of their shift ends —. But just so we’re all on the same page, here’s franchise ownership in a nutshell: A franchisee pays a franchisor a fee, as well as an ongoing. 1 Big Banks/Banks With Regular Sign Up Bonuses. By eliminating the need for cash handling, Kickfin not only increases efficiency but also ensures transparency and fairness in tip distribution. Kickfin was founded in 2017 and allow s restaurants to send tips directly to employee bank accounts without the use of cash or pay cards. Kickfin recently sponsored and attended HT-Next, a premiere hotel technology conference. Before Kickfin, we paid out the staff with cash every night. Kickfin is a gratuity management platform for hospitality. 3. Management are able to distribute tips instantly without a complicated dashboard allowing the business to keep less cash on hand and reduce theft. As a restaurant owner, you’re responsible for your customers’ debit and credit card information the moment it’s swiped into your system. Guest contribution by Andy Freivogel, Co-Founder & CEO, Science on Call It’s never been more important to monitor your restaurant’s spending. Kickfin is a contactless payment option that can help minimize the spread of disease. Send tips directly to your employees’ bank accounts, 24/7/365. The restaurant industry has had a rough go of it since COVID-19 hit. Claim your Free Employer Profile to start telling your employer brand story to reach top talent. 80. And the server checkout is a lot quicker. (6) Restaurant management system for the hospitality business. What. Meet Christina. "Using Kickfin to digitize tip payouts can. 90% of marketers believe that influencer marketing is effective, according to a 2022 Influencer Marketing Hub survey. The estimated additional pay is $63,192 per year. Kickfin can sendcashless tip payments directly to employees' bank accounts, at the completion of their shift ends — 24/7/365. Kickfin is a service that’s in-line with what they need and expect: convenience, speed, safety,” “So, so easy. Explore Bite Ninja's alternatives and competitors. If your customers complain about your breadsticks, cut them. Funds are instantly accessible the moment employees are tipped out (including nights, weekends and bank holidays), so your people don’t have to deal with the paycard wait times if rent is due or they have. Starting from $0,. Previously, Alexis was an Account Executive at Kickfin and also held positions at Compass Group, TRAUB companies, Marvin Traub Associates, Konica Minolta USA. The two primary “categories” are on-license and off-license. Become an official Kickfin integration If you’re interesting in adding Kickfin’s technology to your existing product or platform, introduce yourself below and we’ll connect with you asap. Kickfin is the only software that sends tips directly to. Kickfin makes it easy with our free, downloadable tip-out sheet templates. Kickfin is the same instant, cashless tip payment tool that thousands of restaurant teams across the country rely on day in, day out. Read on to get the lowdown on NGC: what it is, why it is, and how. Chris said that Kickfin benefits include: Employee satisfaction: PWH workers — like most hospitality folks — want to get paid instantly, and in a competitive labor market, Kickfin helps keep employees happy. In my opinion, the most important benefit is the. Bonus: your. They have software and systems for every aspect of their operations — from POS to invoicing to accounting to payroll. The two primary “categories” are on-license and off-license. Implementation is fast and free: Restaurants can get Kickfin up and running overnight — no contracts or setup fees — and save $1,000 a month. Solve for cash shortages, reduce the risk of theft and human error, and recruit more workers by giving your team immediate access to their tips. Overall: Overall we have really enjoyed switching over to Kickfin. Score 8. And when Chris discovered Kickfin could solve their tip-out troubles for good, he didn’t think twice. By automating tip distributions, you'll eliminate bank runs, solve for cash shortages, and cut labor costs. Kickfin is the only way to instantly deposit tips into employees’ bank accounts, 24/7/365. Wells Fargo Success Story. Overview; Franchise Restaurants; Multi-location Restaurants & Hospitality Groups; Independent Restaurants; Pizza & Other Delivery; Cafes & Bakeries; Bars, Clubs & NightlifeCentralizing this labor-intensive activity compounds the savings for multi-unit operations. Kickfin is a powerful value-add to your solution, which makes you more competitive in the market — and stickier for your existing customers. Features. The easier platforms are to. Make tipping out your staff the easiest part of your night with Kickfin! Say goodbye to the hassle of handling cash and hello to instant digital tipping. Maximum tip credit: 50 hours x $5. Tip pooling is a great way to manage employee tips, but it does come with specific regulations. As between you and Kickfin, Kickfin will be the owner of all right, title, and interest in and to all systems, hardware, software, interfaces, equipment, technology, marks, documentation, and other materials owned by or licensed to Kickfin, including the Kickfin System, the Services, your Kickfin Account, and any other intellectual property of. raised $750 million in its latest funding round, in a move that values the financial-technology startup at about $25 billion and sets it up for an initial public offering.