TRANSCRIPT: March 23, 2026 — Discovery Call
Participants: Debbie McGrath, Ewing Gillaspy, John Kelly
Duration: 41 minutes
Source: Fireflies ID 01KM9J1A8SYJXTWXVP68BFZHEM
KEY FACTS ESTABLISHED
- HR.com is 27 years old, profitable, bootstrapped, no outside capital
- Three distinct assets: domain, media business, MyPeople.ai platform
- Domain name estimated $15-20M by two-letter domain specialists
- Media business ~$7-10M at 1.2-1.5x revenue (not EBITDA)
- EBITDA approximately 20%
- Prior acquisition offers: lowest $9M (industry association), highest $45M
- 8 offers received in 2022 process — took one in between that didn't close
- MyPeople: $7M revenue, 35 interested clients, 7 onboarding in 45 days
- MyPeople rebuilt on TypeScript/Node.js/React, API-first, native AI
- Forj (previous name) burned through $8M and 4 CEO/CTOs in 3 years
- Debbie recovered IP, rebuilt from scratch
- 260 COVID virtual activations proved platform reach
- 1.8M HR community members
- Domain broker Andrew Miller wants 10% (negotiated down from 20%)
- Debbie turning 64 in May, hip replacement June, can't travel until June 8
- Open to 2-year transition commitment
- Does NOT want another CEO job
- Sold first company to Washington Post in 1998
JOHN KELLY'S KEY QUOTES
- "We're damn good at what we do"
- "Let us blow you away"
- "I can still code if I have to... Claude and everything else makes me really efficient"
- "I literally generate outcomes and growth engines"
- Knows CEOs of Remote, Rippling, Deel personally
- "I can build leadership teams in minutes now"
- Ran Oracle (with Larry Ellison), SAP (with Bill McDermott), multiple IPOs
- 6 exits, $750M+ VC raised
- Best man at Doug Merritt's wedding twice (Splunk/SAP connection)
DEBBIE'S KEY QUOTES
- "I don't want another CEO job"
- "I need to get My People off HR.com's payroll"
- "I know all these people too" (re: potential buyers)
- "I need leverage and me doing the negotiations is not the best thing"
- On big players: "They're so committed to just keeping their filing cabinet full as opposed to innovating"
- On Workday: "Workday is being very difficult to work with and not letting anybody get their data out"
- Re domain: "Two guys sell 90% of the two letter domains"
- "I've worked 12 hours a day for years"
- "I have people who have been with me 20 years, 30 years"
STRATEGIC INSIGHTS
- Debbie sees domain as simplest/highest value sale
- Media buyers undervalue the domain when bundled
- Big players (SAP, Workday, Oracle) could buy domain to create AI layer on top of platforms
- On-prem trend: customers moving back to own their data
- Moved off AWS over weekend for data sovereignty
- Larry Ellison buying media properties to "control the narrative"
- Clients "sick of waiting" for Workday/SAP to innovate on AI
- Independent AI layer positioning is the strongest strategic angle
- Glenn ("Daddy Shark") is trusted advisor, former boss of Ewing, 30+ year friend of Debbie
ACTION ITEMS FROM CALL
- Debbie to send asset document with potential acquirer list
- Team to return with 3-option plan within 48 hours
- Follow-up call Thursday while Debbie traveling with Glenn