Curated By: Business Desk
Last Updated: October 23, 2023, 17:38 IST
A dynamic duo in the United States harnessed their ingenuity to craft an artificial intelligence (AI) tool using ChatGPT, kickstarting the project with an investment of Rs 15,000 ($185). Impressively, their entrepreneurial venture proved lucrative as they later managed to sell the developed tool for a substantial sum of Rs 1.2 crore ($150,000).
According to a CNBC report, Salvatore Aiello and Monica Powers initially crossed paths at a virtual startup founder meetup hosted by Y Combinator, a startup accelerator firm. After some time, they opted to collaborate and jointly worked on crafting an AI tool called DimeADozen designed to assist professionals in testing their business ideas.
What Is DimeADozen: What Does It Do?
DimeADozen stands as an AI-powered tool that aids entrepreneurs in transforming their business concepts into comprehensive reports. This innovative tool evaluates prospective investors, consumers, and competitors, providing rapid and efficient key insights.
The decision to create the tool proved successful when, within roughly seven months, DimeADozen generated a revenue of Rs 54.8 lakh ($66,000) for the duo. However, as their business venture thrived, new owners emerged, presenting Aiello and Powers with a substantial offer of Rs 1.2 crore ($150,000). The tempting offer prompted them to sell the tool.
The tool found new owners in a couple—Felipe Arosemena, a software engineer, and Danielle de Corneille, a product designer. Even after selling the tool to the couple, Aiello and Powers remain actively involved in its development, serving as advisors. They dedicate five hours each week to contribute to the tool’s growth. Aiello expressed optimism that DimeADozen’s efficiency in task completion would catch the attention of industry leaders, such as Salesforce, in the future.