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Thank you for taking the time to share your perspective. It's disappointing to see you haven't enjoyed your time at OneTrust. We appreciate your feedback, as OneTrust values all its employees' ideas and experiences. Our leaders made some tough decisions last year. We acknowledge this catapulted a huge culture shift, and we have actively worked to refresh our culture ever since. Our People team introduced new company values to serve as a north star for how we show up at work. They also introduced an annual and mid-year performance review process where managers can recommend promotions for their people, and they re-introduced our annual merit increases and bonus programs which are determined by company and individual performance. OneTrust also rolled out quarterly Values Spotlight Awards which recognizes teams across the company for exemplifying our values in their work. Each team was given a monetary prize to promote team building. We also held our first-ever Hackathon event this summer where employees applied their knowledge to real market, customer, and internal challenges to create solutions the business can use. All 2000+ employees in the company were invited to participate, and the top four teams were rewarded with a monetary prize as well. The People team has also committed to quarterly employee engagement surveys. The first two rounds have shown that we still have some work to do, but we have shown tons of progress and overall, our employees think OneTrust is a great a place to work.
OneTrust isn't the same company it was when it first started in 2016, and that means we can't operate the same way either. We've started to scale and go down the road to mature as an organization, and there's tons of meaningful, exciting work ahead of all of us, including our Sales team. Our first-mover advantage established us as a powerhouse in the privacy space, and our talented Sales professionals have helped us get to 14,000 customers and growing with our shift from product to platform. We reached record ARR in ground-breaking time, and we still have only scratched the surface with a giant TAM and IPO-readiness on the horizon.
With all the change OneTrust has experienced, we've undergone a lot of growth too. We are intentional and thoughtful when we hire, and we're becoming a more sophisticated enterprise every day. We understand that some people may thrive better in the old OneTrust environment, and that's okay. We can't wait to see what the future holds for OneTrust as we provide solutions to help build trust around the world.