These Two Friends Used ChatGPT To Build AI Startup With Just Rs 15,000 & Sold It For Rs 1 Crore
ChatGPT and roughly Rs 15,000 ($185). That's all it took for two friends to built an AI startup as a side hustle. But in the following months this year, they managed to grow it and get more funding. And as recently as last month, the friends sold their startup for a mammoth $150,000 (approx Rs 1.2 crore). Lets look at their journey.
Just ChatGPT and roughly Rs 15,000 ($185). That's all it took for two friends to build an AI startup as a side hustle. But in the following months of this year, they managed to grow it and get more funding.
And as recently as last month, the friends sold their startup for a mammoth $150,000 (approximately Rs 1.2 crore). Let's look at their journey.
Who Are The Two Friends?
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Friends Sal Aiello and Monica Powers had met last year at a virtual startup founder meetup event, run by Silicon Valley startup accelerator Y Combinator, and quickly started working together in their off-hours.
They went to build their lucrative AI side hustle in four days and spent just about $185 to get it off the ground.
At first, they started running their side hustle ideas past ChatGPT, using the generative artificial intelligence chatbot as a starting point for market research. Then, they realised they knew how to ask ChatGPT the exact right questions to get useful answers¡ªand other people probably didn¡¯t.
Aiello is a longtime CTO for tech startups, and Powers is a product designer who currently runs a strategic design and branding company called Mascot. In March, they decided to create an AI-powered research tool. Fill out a form about your idea, and the tool will input your answers to ChatGPT in a maximally helpful way.
¡°Maybe we can sell this,¡± 36-year-old Aiello recalled thinking, as per a CNBC report.
Days later, they launched DimeADozen for ¡°want-repreneurs¡± to pressure-test their business ideas. It charges $39 for a comprehensive report and compiles results in a fraction of the time it typically takes traditional analytics agencies or search engines.
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Also Read: How This Artist Used ChatGPT To Create A Meme Crypto Coin That Hit $44 Million Market Value
What Does Their AI Startup Do?
Business consulting startup DimeADozen helps do AI-powered market research for any business idea. Its AI tool can be used to instantly see how your business can succeed and launch in any market.
dimeadozen
How & When Did They Sell The Startup?
In roughly seven months, DimeADozen ¡ª split evenly between Aiello and Powers ¡ª brought in more than $66,000. With the exception of $150 for the web domain and $35 on hosting and a database, nearly all of it was profit, Aiello says.
Last month, they struck a deal to sell the side hustle for $150,000 to Felipe Arosemena and Danielle de Corneille, a husband-and-wife duo ¡ª one is a software engineer, the other a product designer ¡ª who want to make DimeADozen their full-time jobs, said Aiello.
Aeillo and Powers plan to keep working roughly five hours per week on it as company advisors. ¡°It really does print money,¡± Aiello added.
Also Read: TCS Confirms Plan To Build Its Own ChatGPT Like AI Tool
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