I am trying to understand Thryv as a potential investment. I am curious about your opinion on the major strengths and weaknesses of Thryv.

Yellow Pages was primarily a sales business, focusing on a physical book. They transitioned into a services company, supporting small businesses by providing professional services for their Google needs. This is still a professional services business, not a core technology-building business. They are trying to transition into a SaaS business, providing an easy-to-use platform like HubSpot. Their user base is simple and basic, not comfortable with using innovative technology solutions independently. They need to build something that works for them, which has been their biggest challenge over the last two years.