Bootstrapping a Generative AI Venture Using Services: Abhinav Girdhar, Founder CEO of Appy Pie (Part 5)

Sramana Mitra: Can you talk about the pricing strategy?

Abhinav Girdhar: We strategize in terms of what value we are adding to the platform. So we started as an app builder, later on we started offering a free website with an app. So when you create an app you also get a website.

Featured Videos

Bootstrapping a Generative AI Venture Using Services: Abhinav Girdhar, Founder CEO of Appy Pie (Part 4)

Sramana Mitra: Ok, so you spun it out around $1 million ARR?

Abhinav Girdhar: That’s correct.

Sramana Mitra: So now that you’re at $1M ARR, has a shakeout happened in the market? Have some of the other smaller competitors started folding or consolidating? What’s the situation?

AI Unicorns: Could OpenAI Become the Most Successful PaaS Company?

When it comes to AI, the one company that comes to everyone’s mind is OpenAI. It was founded in 2015 as a non-profit entity by Sam Altman, Elon Musk, Ilya Sutskever, Greg Brockman, John Schulman, and Wojceih Zaremba to develop a useful version of AI. OpenAI was set up with the intention to act as a countermeasure for the possibility of monopolization of AI technology by tech giants.

Video FAQs

Bootstrapping a Generative AI Venture Using Services: Abhinav Girdhar, Founder CEO of Appy Pie (Part 3)

Sramana Mitra: Out of the 10,000 registrations, how many converted into paying customers?

Abhinav Girdhar: Mostly these were small customers, so people were coming in on a freemium model. I would say the conversion rate from freemium to paid was pretty low – 1 or 2 out of hundred users.

Sramana Mitra: 1-2% conversion rate. That’s normal in freemium. If you can get to 4% conversion in freemium, you’re doing great.

Bootstrapping a Generative AI Venture Using Services: Abhinav Girdhar, Founder CEO of Appy Pie (Part 2)

Sramana Mitra: So what precisely was the gap? Is it a pricing gap, was it more expensive, or was it a support gap? What was the gap?

Abhinav Girdhar: The gap was mostly on the support side of things and also servicing in terms of how do we go about serving these customers. The US companies mostly have a ticketing platform; there was no live support to assist these small medium businesses.

Bootstrapping a Generative AI Venture Using Services: Abhinav Girdhar, Founder CEO of Appy Pie (Part 1)

Abhinav has built a $15M+ ARR business by bootstrapping using services. Of his three products, one is a GenerativeAI design tool. Read on for more nuance.

Sramana Mitra: All right, Abhinav, let’s start at the very beginning of your journey. Where are you from, where were you born, raised, what kind of background?

July Udemy Coupons for AI and Tech Startup Courses

Whether you’re a budding entrepreneur or a seasoned developer, our courses offer a clear pathway to success. They encompass everything from case studies on building ML startups to analyzing the future of AI technology. We also have six methodology courses, equipping entrepreneurs with the essential tools for creating successful tech startups. These courses delve into crucial aspects of entrepreneurship, including positioning strategies, pricing models, validation techniques, and market analysis. Whether you aim to refine your B2B sales approach or assemble a top-notch team, our courses serve as your gateway to making a significant impact in the ever-evolving world of technology startups.

For the month of July, we are offering you up to 85% off these courses.

All the coupons will expire on July 31, 2024, so enroll today!

Artificial Intelligence:

How To Build AI Startups with Sramana Mitra: TRY1MBY1MJUL2024AI

Generative AI Startup Strategy Case Studies: TRY1MBY1MJUL2024GAI

>>>

Catching Up On Readings: Global Supply Chain Top 25

This annual ranking feature from Gartner ranks the leading supply chain organizations and identifies the underlying trends that drove their performance. Schneider Electric was at the top, followed by Cisco Systems, Colgate-Palmolive, Microsoft, and Johnson & Johnson. New to this year’s list was NVIDIA. For this week’s posts, click on the paragraph links.