Startups

Duo used ChatGPT to build an AI startup with Rs 15,000, sell it for one crore – CNBCTV18


Harnessing the capabilities of generative artificial intelligence, two friends — Sal Aiello and Monica Powers — transformed a modest investment of $185 (around 15,000) into a flourishing business venture.

The duo conceptualised and developed DimeADozen, a groundbreaking AI research tool designed explicitly for testing business ideas. Their creation, which started as a mere side hustle, recently found new owners in a significant deal worth $150,000 (roughly 1.2 crore), reported CNBC.

Aiello, a Chief Technology Officer for tech startups, and Powers, a skilled product designer and entrepreneur, met at a virtual startup founder meetup event organised by Silicon Valley startup accelerator Y Combinator. Their collaboration quickly bore fruit when they realised the untapped potential of utilising artificial intelligence in business idea validation.

What does the startup do?

The genesis of DimeADozen lay in their ability to pose precise questions to AI chatbot ChatGPT refining their queries to elicit valuable and actionable insights. Recognising the broader market appeal of their innovative approach, they developed an AI-powered research tool.

DimeADozen streamlined the process, allowing aspiring entrepreneurs to submit their ideas via a form. The tool then employed sophisticated algorithms to transform this information into comprehensive reports, analyzing potential investors, customers, and competitors.

DimeADozen’s efficiency became evident as it outperformed traditional analytics agencies and search engines, delivering reliable results in record time. With an initial investment of $185, the duo saw their side hustle generate substantial profits, with minimal expenses. Over seven months, DimeADozen amassed revenue exceeding $66,000, as per the reviewed documents by CNBC Make It.

The funding

Their success story reached new heights when Felipe Arosemena and Danielle de Corneille, a husband-and-wife team comprising a software engineer and a product designer, recognised the potential of DimeADozen. Seizing the opportunity, they acquired the business for $150,00.

Despite the sale, Aiello and Powers remain actively involved in DimeADozen, continuing their roles as company advisors and dedicating a few hours each week to nurture their brainchild. Aiello expressed his aspirations for the tool, hoping that it might catch the eye of industry giants like Salesforce, potentially becoming a ubiquitous solution for businesses seeking validation and insights, reports CNBC.



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