"The flower market closes at noon or 1 PM, so I was the only person still there. It was me and the rats, and the rats were as big as cats. It smells like the subways of New York, with chain-link fences between stalls and single-light bulbs hanging from the ceiling. It literally looks like a murder den."
"I don't know anybody else who would come to a flower mart and set up payroll for a small business like mine with one employee. Stembel has now been a customer for more than 13 years and, even so, she's still surprised by the level of service and dedication shown by Gusto's founders."
"Clarity is kindness. The clearer, the better. We're much higher on ARR now, we're accelerating growth, and we're happy with that trajectory. Reeves emphasized transparency about actual revenue metrics rather than using alternative accounting methods."
Gusto cofounders Eddie Kim and Tomer London met Christina Stembel, owner of Farmgirl Flowers, at a San Francisco flower market in 2012 to help her set up payroll for her first employee. Despite the unglamorous location and Gusto being only an eight-person company at the time, they provided personalized service that impressed Stembel. Over 13 years, Gusto has transformed into a $9.3 billion enterprise serving more than 500,000 customers. The company recently confirmed surpassing $1 billion in revenue, with backing from major investors including Ontario Teachers' Pension Plan, T. Rowe Price, General Catalyst, Fidelity Investments, and CapitalG. CEO Josh Reeves emphasized transparency about the company's actual cash revenue rather than using alternative metrics.
Read at Fortune
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