Interior Design AI SaaS made $168K Profit in 6 months

Statistics:

• Website: RoomGPT.io

• Launched On: 2nd of March, 2023

• Monthly Website Visitors: 1 million

• Reached 100K Monthly Visitors: 48 hours since launch

• Last Monthly Revenue: $23,000

• Last Monthly Profit: $16,000

Description:

RoomGPT is an AI interior design platform created by Hassan El Mghari which allows users to redesign their rooms in seconds. This serves home enthusiasts, interior designers, architects as well as real estate agents as it provides them with an inspiration to what a specific room could look like or what type of furniture one can buy.

All a user needs to do is upload a picture of their desired room, select which type of room it is, which type of theme they like, and in seconds the AI generates a remodeled version of their image. Since its launch date in March of this year it has already amassed over 1 million users, and the website grew to a peak of 4 million monthly website visitors.

Business Model:

This AI business runs on a B2C and B2B SaaS charging where users initially get 3 complimentary credits which allows them to redesign their room one credit per theme. Once those are used up, users have to purchase a top up from the following three packages: $9 (30 credits), $19 (100 credits) and $29 (200 credits).

According to their Aquire.com listing, RoomGPT have been able to amass over 1.6 million users and a total revenue of $241K with a total profit of $168K. The company is currently being sold for a 3x multiple at $720K. The last reported monthly revenue has been at $23,000 with a profit of $16,000.

Growth Strategy:

The AI hype has definitely contributed to the record breaking growth of RoomGPT. However organic growth has also played its vital part too, like short form UGC (user generated content) which have emerged on TikTok and YouTube. For example a viral TikTok video demonstrating the usability of RoomGPT by itspaulinamac has gotten over 3.5 million views and a YouTube reel by beebom amassed over 500K views. This even got Yahoo to write an article about the viral TikTok and RoomGPT on May 16, 2023.

Other strategies such as listing the project on TheresanAIforthat.com (on March 4th) has definitely helped catch more eyeballs too. Hassan also mentioned that "including GPT in the name for marketing purposes" and fast implementation by "using a new AI model right after it came out (as none of the previous models did a good job keeping the structure of images)" has helped him jumpstart his growth.

Tech Stack:

React, Next.js, Postgres, Python, Flask, and Replicate AI API

Key Takeaways:

Be quick to ship out a product when a new AI model comes out that can solve a particular problem better. Use viral short form content to promote your project on TikTok and Youtube. Also use other AI related channels to bring more exposure.