Welcoming America’s newest public company @FiscalNote (NYSE: $NOTE) to the @NYSE by ringing the Opening Bell!

This week the company I founded with my friends @FiscalNote went public on the @NYSE ($NOTE)! This is the story of how a child of Korean immigrants, who came here speaking no English, raised capital from @mcuban @NEA @SPGlobal @winklevosscap & founded a publicly traded co (1/x)

Great investigative report in Wired today about how our researchers at @FiscalNote used machine learning to uncover the use of bots to infiltrate the net neutrality debate and generate over a million fake comments to the FCC. wired.com/story/bots-broke-f…

Investigative, independent journalism is alive and kicking. @Fahrenthold washingtonpost.com/lifestyle…

We do that over here at @FiscalNote even down to state regulations. Also classify by industry sector using NLP. @ChrisLu44

It's a real honor to be featured in the @Forbes #30Under30 this year with our team @FiscalNote! forbes.com/30-under-30-2016/…

CQ and Roll Call are absolutely committed to the growth of our newsroom. If you, or anyone you know, is interested in our mission and joining a fast-growing, profitable, and technology-driven organization, please take a look at our openings! careers.fiscalnote.com/

Introducing America’s newest publicly traded company, @FiscalNote (NYSE: $NOTE)! FiscalNote will be back August 4, 2022 (Thursday) to ring the Opening Bell on the New York Stock Exchange with an even larger celebration!!

FiscalNote's mission is to connect the world to their governments, providing critical news, information, and data to the world. We look forward to working with the amazing team at CQ Roll Call in accomplishing this mission and delivering for our customers! fiscalnote.com/press/FN_PRES…

Great job @DarylHok and @arthurkarell on the launch of your new venture @getSeashell! Excited to be an investor and a supporter.

In the past (think 2017) we saw massive increases in product usage from customers who needed to track the tens of thousands of Executive Orders, regulatory changes, and legislative action that not just from companies but also from the thousands of trade associations, lobbyists, etc in Washington tracking this stuff. Will be even more hectic this go around with a unified White House and Congress. Also expect state legislatures to be in tight political war (particularly in places like Sacramento and Albany) with DC as they try to push back. A lot of whiplash for private sector.

Exciting days ahead for @FiscalNote! (FiscalNote this week announced plans to go public through a merger with Nasdaq: $DSAC. Upon a successful merger, the newly combined company is expected to be listed on the Nasdaq under the changed ticker “$NOTE”)

FiscalNote $NOTE holders - some thoughts as we get towards the end of the year. It's been an incredible year for the company in 2024 (more below): - We clocked five straight quarters of AEBITDA, with the highest ever/record AEBITDA profit in company history in the last Q - We dropped ~$105m of cash onto the balance sheet this year by selling two non-core products that represented ~11.5% of our GAAP revenues (one company we bought for $10m of cash in 2021 and made a 9.5x cash-on-cash return for shareholders) - We sold those two none-core companies for ~7x ARR and another ~5x ARR (should give you a sense of what we're seeing in the private markets on valuations even though we're trading at 1.5-3x right now) - We used a big chunk of cash to slash half our senior debt - We launched multiple new AI Co-Pilots in the market (piped.video/watch?v=oFAKdwsg…) for long term growth - Brought in a new head of product from Casetext (which sold to Thomson Reuters for $650m) - Launched new partnerships with Prorata.ai, building on our partnerships with OpenAi, Microsoft, and Google in the GenAI space - Expanded our customer relationships with the White House, dozens of federal departments and agencies, Supreme Court, etc. as well as major companies in the F500 - Launched a bunch of new services to help customers navigate the new Trump Administration including data and analysis on all the new players, legislation, and regulations in everything from oil and gas to crypto Despite this, my strong opinion (which I've said publicly in earnings) is that the company is completely undervalued on a fundamental basis. We have a clear AI leadership position in our sector.  We generate nine figures in compounding recurring revenue ARR from thousands of customers with retention rates in the mid to high 90s.  We drive consistent, 80%+ high adjusted gross margins.  We have an operational foundation that drives extremely high operating leverage.  We are profitable on an Adjusted EBITDA basis. The markets may not have realized it yet, but we'll just continue to execute and deliver until they do.

Super excited to announce our plans to go public on the Nasdaq today via a combination with $DSAC! A huge thank you to all of our amazing employees, customers, investors, and employees who have helped us get to this milestone from a Motel 6 room in Silicon Valley to today.

My parents are in town in NYC this week to watch us ring the Opening Bell on the @NYSE tomorrow (8/4 9:30 am). Seeing my immigrant parents inside an American institution hundreds of years old for their son to open the market is a feeling that I cannot even describe (14/x)

Fun weekend reading: when local newspapers go bankrupt, it becomes more expensive (higher taxes!) for communities to issue bonds for schools, roads, etc. Communities should have a vested interest in local journalism. citylab.com/equity/2018/05/s…

Proud to announce today that FiscalNote has secured $160 million in financing! This is an incredible milestone for our company in our mission to connect the world to critical government information! fortune.com/2020/12/04/fisca…

A Letter to the Customers and Readers of FiscalNote and CQ Roll Call. We're looking forward to continuing our journey together! linkedin.com/pulse/letter-cu…

FiscalNote - $NOTE is proud to announce our collaboration with @Google as a launch partner for Integration with Bard by Google!

FiscalNote - $NOTE is proud to announce our collaboration with @OpenAI as an inaugural launch partner for the ChatGPT Plug-in. As OpenAI’s only launch partner in the Legal and Regulatory domain, FiscalNote extends its leadership in the application of AI to laws!

It was a pleasure speaking in Davos today at the World Economic Forum (WEF) about the impacts of technologies like @FiscalNote on the global political system. Looking forward to more conversations.

This morning FiscalNote - $NOTE - announced major new customer agreements with International Governments, Embassies, Agencies, Parliaments, and Ministries. These are in addition to previously announced deals with the DoD, White House, the Fed, and every member of the US Congress.

I'm insanely grateful to all our employees, customers, partners, investors, and supporters over the years. Without them we would not be here today. This is just the beginning for $NOTE and we are excited to see what's next!! (end)

We at @FiscalNote are excited to announce the creation and a $500,000 philanthropic commitment to the Wendy Martinez Legacy Project with the @communityfndn to fund initiatives that Wendy believed in. Thank you to the entire community and @MayorBowser for the support today.

Incredible conversation with former Vice President Al Gore!

Read about how @FiscalNote Research used machine learning to uncover the use of bots in infiltrating the net neutrality debate.

Today, @FiscalNote becomes a #GRM – an end-to-end solution for managing government strategy. #publicpolicy

.@FiscalNote is excited to announce our acquisition of VoterVoice, adding more than 1,100 new clients and 21.9M Americans to our platforms!

As @FiscalNote enters its new life as a publicly traded company, I'm sharing some thoughts (in my first published open memo!) on our genesis and mission, what drives us everyday, and the type of company we are and hope to be! medium.com/@timthwang/1b5853…

I’m truly honored to be included amongst this amazing group of entrepreneurs and innovators. So much of our success at FiscalNote is due to our incredible staff, who day in and day out dedicate themselves to our mission of better connecting the world to their governments.

Excited to announce our $10M Series B led by RenRen (NYSE: RENN) - just two months after closing our $7M Series A. on.wsj.com/1zwlMNf

As FiscalNote continues its goal to create the world's first centralized repository of all of humanity's laws and regulations on every country on the planet, take a look at some of the countries we cover today! Excited to continue our growth around the world.

My letter to FiscalNote and CQ Roll Call global staff today announcing changes to the organization as we align our teams to the evolving needs of our clients.

My guest piece on @TechCrunch on how Silicon Valley lost touch with Washington tcrn.ch/2dQtY7M

Great to be back in DC for our #FNGardenParty! @FiscalNote

The mother of one of my friends was unfortunately murdered in the Atlanta shootings that took the lives of 8 individuals earlier this week. Please consider sharing this fundraiser on behalf of their family. gofund.me/ba2914b1

Incredibly honored to see the @FiscalNote team featured today on @Inc's annual "30 Under 30" list! inc.com/profile/fiscalnote

FiscalNote Announces Series C: This startup blends tech and politics, just got another $10M via @FortuneMagazine for.tn/205QFCX

Excited to welcome Labor Dep Sec and former White House Cabinet Secretary @ChrisLu44 to @FiscalNote in 2017! fiscalnote.com/2016/12/22/fi…

FiscalNote has created a free COVID-19 Resource Center that aggregates coronavirus policy news/analysis straight from Capitol Hill, the states, and globally. Includes CQ Roll Call original content, transcripts, documents, webinars, and best practices. media.cq.com/coronavirus

Today @FiscalNote is one of the largest tech employers HQ'ed in DC with hundreds of employees across the US, Europe, and Asia/Aus. We now help thousands of customers understand the law from Congress to the White House/DoD/CDC/etc, half the F100, and major orgs on K street (12/x)

First day in our new 22,000 square foot @FiscalNote HQ! Incredibly proud of our teams. #FNMovingDay

Getting ready for @FiscalNote Teeet Chat on the #FNSOTU. Tune in at 9 PM ET for some sweet coverage. #SOTU

Excited to announce that @FiscalNote was selected by the @wef to be a Technology Pioneer this year! widgets.weforum.org/techpion…

Great work by the @FiscalNote ($NOTE) team this quarter: in addition to posting 21% growth in Q2 2023, we increased Q3 Profitability guidance with the expectation to be profitable on an Adjusted EBITDA basis next quarter in Q3 2023, a quarter earlier than expected!

FiscalNote $NOTE announced an exciting new collaboration today with Microsoft at #MicrosoftBuild2023 to integrate with the new AI-powered Bing!

Happy two year anniversary @FiscalNote!

I'll be joining @danielschuman, @Josh_A_New, @JessaNaomi chatting legal #opendata at @DataInnovation May 24 – RSVP! datainnovation.org/2016/05/w…

Have you ever wondered who your federal/state elected officials are? Want an easy and free way to send them a message? FiscalNote launched a simple and free tool today to find out who represents you in less than 10 seconds and amplify your voice. fiscalnote.com/find-your-leg…

We had 0 relationships in the tech industry - only an idea to build the Bloomberg for laws and regulations while watching companies like Uber/Airbnb/Zenefits get slammed by regulators. We wanted to help companies understand politics and laws better with a SaaS product (3/x)

It's crazy to think that just a couple years b4 we were a bunch of kids sitting around with an idea. But the same bold bets and focus on the long term/employee culture/customers that we had since the beginning hasn't changed and really is the fuel that will push us fwd (13/x)

Join @FiscalNote & @NEAVC w/ reps from @Uber @Zenefits, @DJIGlobal and more as we explore the impact of law on tech! go.pardot.com/l/137421/2016-…

Everything you hear about how hard startups are is true. There were so many times we almost died. When our 1st VC term sheet fell apart I had to pull our co together w 6 wks left & every employee offered to forgo their salary in order to give the co enough oxygen (thank u!) (7/x)

Incredibly excited to announce at Davos our acquisition of Brussels-based Shungham, marking our first major investment into the European Union and its member states. Looking forward to extending the @FiscalNote family into Europe and beyond! washingtonpost.com/news/capi…

I (and anyone on my team) am always happy to be available to answer any questions about the company, what we've accomplished this year, and what we're looking forward to in the new year and beyond. If anyone has any questions they can email ir@fiscalnote.com (which is actually manned by real people!) or me tim@fiscalnote.com directly and will address the questions.

Excited to announce our agreement with Thomson Reuters to deliver @FiscalNote to clients around the world! fiscalnote.com/2016/03/29/fi…

Do some more work and read the actual disclosures. Little less than half of that is long dated convertibles with strikes that are all in the single digit stock price ranges. Company has $33m of cash and healthy level of senior debt relative to EBITDA. Equity value is determined by comparables and enterprise value, which all trade mid to high EV/ARR (look at the Bessemer SaaS index) and the fact that we sold down two businesses for 7x and 5x ARR in the last 9 months. Maybe do some more analysis than just screening on your trading terminal.

Whether DeepSeek/Chinese companies violated export controls or they produced novel innovations (both can be simultaneously true), it was always inevitable that the costs of LLMs were going to be driven down exponentially through relentless competition and innovation. Not really worth debating how it happened but what it means. This was always going to be the case whether it was just American companies competing amongst themselves or globally. The simple reality is that competition drives down cost. The real game starts now as the costs of implementing AI continue to get driven down and the ability to implement and extend novel use cases continue to multiply. While OpenAI, DeepSeek, etc get all the mainstream press there are thousands of companies who are working to implement these models into their own use cases and workflows from medicine to law to customer support. If you are one of those companies (particularly startups), your costs will continue to go down and implementing novel AI use cases will continue to become more accessible. The real value of AI was never in the LLMs but in the applications they were going to serve.

Thank you @carlquintanilla, @kaylatausche, & @jonfortt for a great conversation on @CNBC! Will be interesting to watch 17. Until next time!

I flew out to SF and remember having a breakdown in a rental car somewhere in a Palo Alto parking lot from the pressure we were under. Just 3 wks later we secured our first $7mil and three months after that, we were growing so quickly we raised an additional $10mil (Srs B) (8/x)

Announcing $7 Million in new financing for @FiscalNote! Looking forward to the journey ahead for our company. blog.fiscalnote.com/2014/11/…

Check out this cover story in Politico this week on the government business @FiscalNote that’s started a national debate about the future and role of automation in the industries that define Washington: government relations, journalism, and law. politico.com/magazine/story/…

Employee burnout can really hinder a #startup's growth; prevent that and these 6 things while scaling linkedin.com/pulse/7-things-… #leanstartup

Today FiscalNote expands to Argentina, Canada, Chile, India, and the United Kingdom! businesswire.com/news/home/2…

Took 2.5 hours at the polling location, but that didn't deter anyone from casting their ballot. Great to see democracy in action.

But we managed to build a prototype and get a couple of beta customers and after watching @ABCSharkTank one evening, I went on Google, found @mcuban's email and shot him a cold email. He graciously offered to be our first investor and @NEA and Jerry Yang came in afterwards (5/x)

Can't get to my home a couple blocks from the Capitol. Massive crowds spilling onto the streets here in DC. #NoBanNoWall

Congrats to CEO of @LegalZoom and @FiscalNote Advisor, John Suh on being named an ABA Legal Rebels Trailblazer! abajournal.com/legalrebels/a…?

The @FiscalNote Story: How Three Friends Started a Company their Senior Year, Raised $19M, & Changed an Industry medium.com/@timthwang/the-fi…

My cofounders and I knew each other from elementary school, all kids of immigrants, & decided as we were graduating college in late 2013/2014 that we were going to start a company together. We had very little money, and scraped together $5-6k to buy a one way ticket to SF (2/x)

Will look into it (would really like to). Lawyers make doing everything so hard to do in a public company. Probably a good thing in general just a lot of red tape. We're not a giant company with like Tesla or Palantir with armies of lawyers so everything needs to be above board, especially when doing stuff outside of normal earnings calls.

In the next 2 years, we grew from a team of 25 to almost 200. We ran out of space in our HQ and stuffed our reception area with multiple desks because we just ran out of room. We got a gong that we rang for each customer and would be ringing it multiple times a day (9/x)

Summer off-site at @FiscalNote building our culture and goals for 2015.

We slept in a @motel6 room bc we couldn't afford an apartment in South Bay (imagine two guys to a bed and one person sleeping on the floor for our first office), coding and calling customers from 8am-12am, 7 days/wk. We were paying ourselves $500/mo and eating Burger King (4/x)

We moved back to DC and worked out of a small office with no windows and no heating, hiring our first 8 employees (maybe 18 mo runway). With this small team we worked every single day endlessly drawing up sketches on white boards and cold calling long lists of customers (6/x)

FiscalNote expands its business into Central and Eastern Europe as well as the Middle East with the acquisition of DT Global at a time when the world’s attention has turned to ongoing events in Central and Eastern Europe and their economic impacts. fiscalnote.com/press-room/fi…

A deal that dramatically expanded our customers and vaulted us into market leadership was 75yo @CQRollCall. We flew back and forth from London-NYC-DC on red eye Economy for a year+ as we tried to negotiate a deal that we drew up in our startup conference rooms. Crazy... (11/x)

In 2017, we decided to do something that went completely against the grain of what most growth stage startups were doing: we decided to acquire our first company. This would kickstart an aggressive growth lever for us, rapidly expanding our geos + product portfolio (10/x)

Get kicked off @wmata during rush hour. Actually embarrassed to live in DC based on how bad Metro is.

Most of that data wrong: $9M AEBITDA 2024 (five straight quarters of profitability now). Don’t even know what that 1,400% references (probably some accounting from converting from a private company into a SPAC in 2022). Government contracts solid (investors.fiscalnote.com/new…) and a portion of SBC expenses from previous year granted stock that continues to vest at higher prices (when stock was granted at $6,$10+ in some cases but is vested over multiple years) and amortized out over vesting years.

We're racing to unlock innovation, #opendata, and technology in government here @FiscalNote. #FNSOTU #SOTU

Awesome @FiscalNote @Shungham team in the EU!

If you're looking for unfiltered info on the policy response to COVID, @FiscalNote has created a free Conronavirus Resource Center that aggregates relevant policy news, legislation, and analysis straight from the Hill, the states, and around the globe. coronavirus.fiscalnote.com

Really proud of how our ops team built our new hire onboarding program: fnaweso.me/the-value-of-a-ro… #dctech – how does your company approach it?

Hardest working team in the industry. @FiscalNote Q2 Executive Off-Site. #startuplife instagram.com/p/1I6sHFrkmh/

Uber enters Government Tech space with Uber Movement. piped.video/watch?v=bszvEIMV…

Still a heroic effort by the community and amazing to see the excitement around using technology and the Internet to potentially change government and old institutions.

Proud to have @FiscalNote in @Entrepreneur today as one of the top company cultures in America! entrepreneur.com/article/252…

What a dumb article. #SaaS Annual Recurring Revenue is not the new "eyeballs" of 1999. wsj.com/articles/how-tech-st…

As @fiscalnote scales, we're ensuring we do so w/ the company in mind. Here are 7 things to watch out for: linkedin.com/pulse/7-things-… #startups

Very interesting insights from one of our advisors at FiscalNote @bpmehlman about politics the coronavirus era: mehlmancastagnetti.com/wp-co…

Huge updates on the @FiscalNote iOS app today: new legislator pages, similar bills and shareable pages!

Check out a video of our beautiful headquarters on Pennsylvania Ave in DC and our open job positions at careers.fiscalnote.com! We’re looking for passionate individuals who love working on challenging problems that make an impact in the worlds of politics, journalism, & the law.

FiscalNote releases Sonar, providing data-driven insights across regulatory sources wp.me/p45AJv-lb via @fiscalnote

Our very own @younmokang leading the charge for @FiscalNote in Korea doing international expansion. koreatimes.co.kr/www/news/pe…

Ah, Silicon Valley: where the best and brightest are working on photo filters instead of water for millions in a drought. #WorldWaterDay

We believe this is the beginning of an innovative collaboration with a fellow AI pioneer, and we intend to continue to push the bounds of what is possible as we use this cutting-edge technology to deliver results for our global customers.

Had a great conversation at #Google @campusseoul this morning. Thanks @younmokang for the photo!

We @FiscalNote will encourage our employees to #TakeOffElectionDay to participate in our democracy and vote: fnaweso.me/fiscalnote-joins-…

For more information check out: businesswire.com/news/home/2…