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.
What does the startup do?
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.
First Published: Oct 21, 2023 6:56 PM IST
