"“The flower market closes at noon or 1 p.m., so I was the only person still there,” Stembel laughs. “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 said. Much has changed: Today, Gusto is a $9.3 billion company that recently reached more than 500,000 customers. The company's investors over the years have included Ontario Teachers' Pension Plan, T. Rowe Price, General Catalyst, Fidelity Investments, and CapitalG."
"“Clarity is kindness,” Reeves said. “The clearer, the better. We're much higher on ARR now, we're accelerating growth, and we're happy with that trajectory.” Reeves had read the story I did last year on the ARR “creativity” hitting an AI boom fever pitch, and he wanted to remove any ambiguity. This opened the door to an entirely new conversation: It's an enterpris"
In 2012, Gusto cofounders Eddie Kim and Tomer London visited Farmgirl Flowers owner Christina Stembel at a San Francisco flower market after it closed. Stembel needed to hire her first employee and set up payroll for the first time, working early and feeling concerned about getting it right. She was surprised the founders came for a very small business with one employee. Gusto later expanded to a $9.3 billion company with more than 500,000 customers. Investors included major financial firms and funds. Gusto confirmed that in February it surpassed $1 billion in revenue, defined as cash collected over the prior 12 months, and emphasized clarity in reporting while accelerating growth and focusing on ARR.
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