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.

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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.

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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?

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Artificial Intelligence:

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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.

Thought Leaders in E-Commerce: Bolt CEO Justin Grooms (Part 7)

Sramana Mitra: Right. What else do you want to share with me?

Justin Grooms: I just want to share how excited I am for where I think commerce is going around identity. So much has changed in e-commerce over the last decade, but one of the things that hasn’t changed too much, unfortunately, is curated, specialized shopping experiences.

Colors: Tranquility V

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 V

Tranquility V | Sramana Mitra, 2022 | Watercolor, Pastel, Ink | 8  x 8, On Paper