DimeADozen: How Two Friends Built AI Startup Using ChatGPT for Rs 15,000 and Sold It for Over Rs 1 Crore
DimeADozen is an AI-powered platform that assists entrepreneurs by converting their company ideas into thorough reports. It examines prospective investors, consumers, and rivals in order to deliver significant insights swiftly and efficiently.
Chicago, October 23: The cost of launching a business can vary widely, and many successful companies have started with very little money. Two friends - Sal Aiello and Monica Powers, have done something similar. Using the power of artificial intelligence, the two have transformed a $185 (about $15,000) investment into a profitable enterprise. They used ChatGPT to build DimeADozen, a platform for testing company ideas. According to CNBC, the firm was later purchased for $150,000 (about Rs 1.2 crore) by a couple, Felipe Arosemena and Danielle de Corneille, who had software and product design abilities.
What is DimeADozen?
DimeADozen is an AI-powered platform that assists entrepreneurs by converting their company ideas into thorough reports. It examines prospective investors, consumers, and rivals in order to deliver significant insights swiftly and efficiently. It started when Aiello and Powers utilised ChatGPT to practice asking clever questions in order to gather meaningful information. They realised that more individuals might profit from this, so they created an AI research tool. DimeADozen made the procedure easier. People could submit their ideas via a form, and the platform employed sophisticated arithmetic to provide thorough reports on possible investors, consumers, and rivals. OpenAI’s CEO Sam Altman Invests in Indian-Origin Teenagers’ Startup Induced AI.
DimeADozen functioned faster and better than traditional research methods, plus they were fairly inexpensive to begin with. According to CNBC, they earned more than $66,000 in seven months. Despite the fact that they sold the company, Aiello and Powers remain advisors to it. They want their platform to be extensively utilised by large corporations such as Salesforce, and to become the first choice for organisations looking for information and insights.
Monica Powers
The latter is a seasoned professional with over 15 years of expertise in creating early-stage firms in education, artificial intelligence, and finance. As ClassDojo's initial designer, she was instrumental in the company's rapid expansion from 5,000 to 50 million members. ClassDojo is now utilised in 95% of K-8 schools in the United States and more than 180 other countries.
Powers has also held major positions at firms such as Hum Capital, where she was Chief Product Officer and Head of Design, and Cheeky Brands, which she established. Her knowledge and accomplishments have elevated her to a prominent position in the technology business. ChatGPT-Creator OpenAI Closes USD 175 Million Fund To Empower AI Startups: Report.
Salvatore Aiello
Salvatore (Sal) Aiello has 17 years of tech expertise, including over a decade as a CTO and Startup Founder. He has witnessed the evolution of the web from jQuery to React, has worked on everything from back-office tools to client-facing applications, and has founded multiple businesses. He is the primary decision-maker as a product and entrepreneur, concentrating on creating product-market fit.
(The above story first appeared on LatestLY on Oct 23, 2023 05:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).