Bootstrapped AI
Source: BusinessBecause

Nowadays, college students are utilizing artificial intelligence to redefine success and break free from traditional limitations.

Through their AI projects, these young pioneers are demonstrating that there are no age restrictions to innovation and that entrepreneurial aspirations can be achieved despite humble beginnings.

College Student Made $64,000 Monthly After Launching AI Chatbot Company

Those who successfully navigate this winding path from nothing to success are generously rewarded.

However, the looming uncertainty that threatens entrepreneurs discourages many from persevering and establishing profitable businesses.

In fact, many people never even start their own businesses, but what about those who do?

Yasser Elsaid, a college student, is one such individual. By launching his chatbot company, Chatbase, he made $64,000 per month in just six months.

Yasser Elsaid Chatbase AI
Source: LinkedIn

Chatbase is a tool that lets users build a custom ChatGPT interface for their websites.

Elsaid mentioned using tech stacks such as React, Next.js, Supabase, OpenAI’s API, Langchain, Pinecone, and Stripe for the day-to-day operation of the AI tool.

The chatbot offers a range of subscription services consisting of four distinct plans, with the bulk of the revenue derived from the $399 monthly plan.

A Focused Drive to Succeed (And A Little AI) Is All You Need

Yasser Elsaid, an Egyptian native who moved to Canada for his undergraduate studies, initially had uncertainty about his career goals.

However, internships at Tesla and Meta during his third and fourth years of university made him realize that the corporate environment was too controlled for his liking.

Nonetheless, these experiences helped him discover his passion for becoming an indie hacker.

Despite previous unsuccessful side projects, he found inspiration from the Indie Hackers podcast and shifted his focus to building side projects instead of pursuing FAANG optimization.

In his fourth year, he became intrigued with AI, drawing inspiration from solopreneurs like Pieter Levels, who developed impressive AI products.

He began experimenting with the OpenAI API and conceived the idea for Chatbase.

Initially named “ChatGPT for your PDFs,” Chatbase allowed users to upload PDF documents and converse with their content.

Elsaid created the minimum viable product (MVP) for this version in about two months and shared it on February 2, 2023, with his 16 Twitter followers.

Surprisingly, his tweet gained viral attention even though he hadn’t created a pricing page yet.

Realizing the traction, Elsaid immediately shifted his focus away from university and devoted all his time to Chatbase, understanding the significance of this opportunity.

Following that, he had a few viral tweets, prompting some AI influencers to start paying attention to him and tweeting about its chatbot.

Presently, Chatbase boasts a monthly recurring revenue (MRR) of $64,000, experiencing remarkable growth primarily driven by its early market entry and leveraging the widespread excitement surrounding ChatGPT.

However, Elsaid’s main worry is the amount of competition and uncertainty about the future of AI tools.

Nonetheless, he noted that staying abreast of emerging technologies and trends will enable any upcoming entrepreneur to identify opportunities more swiftly than others, thereby increasing their chances of seizing one that leads to success.

21-Year-Old and Friends Acquire AI Startup

Some may argue that getting a bloody nose is necessary to learn when to avoid danger, but true battle victories occur in mind even before setting foot on the battlefield.

This is the concept demonstrated by three courageous and enterprising individuals – Roman, Alex, and Pepe.

Rather than embarking on the path of launching their own business, these three individuals combined their skills and assets to obtain an existing one, Mailivery.

Mailivery is a SaaS startup that utilizes artificial intelligence to enhance the reputations of email senders and drive sales growth of up to 16 percent.

The founders of Dashed AI, a platform that helps companies track outbound prospects, discovered Mailivery while researching acquisition tactics for their platform.

Mailivery helped fix problems with email campaigns by using AI to improve the sender’s reputation.

The acquisition was a calculated risk worth taking because it was software-as-a-service (SaaS), profitable, and reasonably priced.

Roman was still enrolled in school, while Alex and Pepe had full-time jobs. So they had to consider if they could devote the time and energy required to the acquisition.

However, their ambition won out in the end.

The three young entrepreneurs acquired Mailivery using MicroAcquire filters to search for a business whose weaknesses aligned with their skills.

Mailivery
Source: Startbase

They received no outside funding and relied solely on their savings to make the purchase.

Due to MicroAcquire’s community-driven marketplace and the founders’ similar backgrounds and commitment to moving quickly, the acquisition of Mailivery took only two weeks.

More people are turning to side enterprises to make ends meet or carve a path out of the office and recover some control over their lives.

In the United Kingdom, Roman, Alex, and Pepe’s endeavors in mergers and acquisitions represent an innovative approach toward achieving success.

It is a path that holds promising prospects not only for the courageous trio but also for others who choose to emulate their example.

What's the Best Crypto to Buy Now?

  • B2C Listed the Top Rated Cryptocurrencies for 2023
  • Get Early Access to Presales & Private Sales
  • KYC Verified & Audited, Public Teams
  • Most Voted for Tokens on CoinSniper
  • Upcoming Listings on Exchanges, NFT Drops
See the 15+ Coins