Bootstrapping a Generative AI Venture Using Services: Abhinav Girdhar, Founder CEO of Appy Pie (Part 6)

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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Video FAQs

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.

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?

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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.