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And that’s very much the type of relationship we have, for instance, with L’Oreal where they are in-sourced with the platform, they are in-sourced with certain services, or some of our other relationships like LEGO is also another case in point where we do certain things for them, and that is a long-term relationship because they view some things as core competency and are willing to have us do other things on a long-term basis. George Walsh —Gilford Securities—Analyst Yes, because I think it speaks to the — if I may say something, it speaks to the valuation question here, and maybe a bit more of a — in the analysis or appreciation of the services and consulting revenues. Because if you look at valuations, I mean last year GSI, according to my calculation of it, it looks like that went out at about 2 times of service revenues. You look at the valuation on Demandware where it was multiples, multiples of revenue, and you guys, if you go with this service equivalent revenue, you’re at less than 50% of revenues. And you are growing these areas and there are — and it is a vastly growing. All you guys are in the same space and even servicing the same clients, and there’s quite a vast difference in valuation and maybe there’s not quite the proper appreciation of the consultancy services side. I know everything is not apples to apples here, but for serving a dynamic space that you’re all servicing and growing, there seems to be something of a, let’s say, not an efficient market in the pricing relative to that. Mark Layton —PFSweb, Inc.—Chairman & CEO We would agree with that. George Walsh —Gilford Securities—Analyst Okay. Well, I just want to put that in there. Okay. Thanks a lot. Mark Layton —PFSweb, Inc.—Chairman & CEO Thank you. Operator I’m showing no further questions at this time, sir. Mark Layton —PFSweb, Inc.—Chairman & CEO Thank you, everyone, for your time. We will talk to you again in May. Have a great day. Operator This concludes today’s conference call. You may now disconnect.
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