Overview
Excelformulabot, founded by David Bressler, is an AI-based tool that quickly converts text instructions into Excel formulas. Launched in September 2022, it aims at a vast audience ranging from finance to marketing professionals. The tool gained rapid traction, reaching a monthly recurring revenue of over $14K, with a growth trend leading to $23K in a recent month.
Unique Aspect
Excelformulabot stands out by providing an AI solution for creating complex Excel formulas, catering to a broad audience with varied Excel usage needs.
Approach to kick off
The product was rapidly developed and initially offered as a free tool without a login requirement, utilizing feedback from early users to refine and monetize the service.
Scoop
Business Model ViabilityThe gradual transition from a free to a subscription-based model, along with its appeal to a broad user base, demonstrates a scalable and viable business model.
Future Projections
Plans include expansion into additional generators, B2B outreach, and targeting a broader demographic, including older business decision-makers.
Startup Stats
📊 ARR: $276,000
📈 MRR: $23,000
🚀 Startup Costs: $196
👥 Team Size: 1
🌍 Market: Targeting 1 billion Excel users globally
👨💻 Users: Heavy Excel users
💰 Funding: Bootstrapped
👨💼 Founders: David Bressler
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