OneTake AI is now PROFITABLE 🥳
by Sébastien NightJust in time for the end of 2023, I'm happy to share that we'll be having our first cashflow-positive month !
Our first pre-sale for OneTake AI (then called Nuro.video) was in January 2022, so it's been just under two years from inception to turning the first dollar of profit.
Our Annual Recurring Revenue (ARR) now stands at USD $500,940.
A year ago we were at $150k, so we've gone 3.3x this year so far (and December is not over!)
It was really tough over the last couple months, as I could feel that we were just on the verge of breakeven, but our costs had spiralled up from building more infrastructure (e.g. our video translation features consume a lot of GPU power).
I then looked to raise a pre-seed round but that whole process was a total pain. I've got a lot of respect for founders who can put up with this. Only two women - one family member and one friend - trusted the vision and the progress and put up a small investment (but big for both their and our finances) which kept us running at this critical time.
So I stopped the fundraising effort ; there was much more upside in drawing my energy back to getting to breakeven faster.
With a lot of creative effort and help from the team, we slashed our expenses in half and cut our contractor payroll by a lot. We also could count on a +10% month-on-month growth, so finally, today (December 17th) is when the "expenses + payroll" curve and the "recurring revenue" curve crossed.
It had to happen at some point, and that point was today!
It's a happy day 🥳
Sébastien
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Congrats! That's a huge and exciting milestone.
So I stopped the fundraising effort ; there was much more upside in drawing my energy back to getting to breakeven faster.
Props to you for doing that! 👏 I've witnessed both sides of this. Founders who go into fundraising mode have to give up the team & product building for months, entering a dark tunnel hoping to get out of if alive. It worked well when money was cheap, but it's a lot tricker today.
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Thank you!
Yes, I feel like I only narrowly escaped the fundraising dark tunnel :-)It is tough to learn to bootstrap on such a short budget, as I'm more used to the information product world, its high margins from the first dollar and its low fixed costs :-)
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