I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Tranquility VI
Tranquility VI | Sramana Mitra, 2022 | Watercolor, Pastel, Ink | 8 x 8, On Paper
This report from Nasdaq looks at the highlights of IPO listings in the first half of 2024. There were 66 IPOs in the first half of the year that together raised $8.7 billion. For this week’s posts, click on the paragraph links.
>>>Sramana Mitra: You have about a $12-$15 million company right now, is that right?
Abhinav Girdhar: I would say north of that, but i don’t have the real numbers on top of my head.
Sramana Mitra: And it’s a bootstrapped company?
>>>Sramana Mitra: Okay, when did the Automate product come out?
Abhinav Girdhar: That was prior to Design. We launched it during the thick of Covid. Now, we’ve got three of these products doing pretty well.
Sramana: The Automate product is also at a million dollar run rate?
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According to a recent report, the global robotic process automation (RPA) market is expected to grow at 40% CAGR from $2.94 billion in 2023. San Francisco-based Automation Anywhere is another high growth AI unicorn that is experiencing a similar meteoric growth.
>>>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.
>>>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?
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