Lovable

“Two million ARR per week.”

“The big megacorps, they move very slowly in many domains. So they're never going to, in many years, they're not going to have the best product on the market.”

“So we took three million and then we added on I got the advice to say like, yeah, just to get a lot of cash because you never know what happens in the markets. So we raised a quite a large pre-seed round with an up to almost eight million dollars.”

“We felt that at best YC would be a lot of dilution and some acceleration with a lot of dilution and some acceleration. And at worst it would be a distraction to go through SF and go through all of these, like, fun things that happen when you go to YC. And we j…”

“We use all of OpenAI's models, Google, Gemini, and the main workhorse is Anthropic's cloud model for writing the code.”

“So I think experience can be a negative thing in some cases. You often want people who are super ambitious, they have a lot to prove, and they are more open-minded towards how, how you should work together in the team.”

“I think at Lovable we thought a lot about the community, and like community features inside of the product, and the, that, I think that could have made a lot of sense if we had seen slower growth. But now that it's just like growth is not something we, not a c…”

“What works in the beginning Is to say yes onto a lot of opportunities and try out what works. Once you become more people and you have to follow up and maintain everything that you start, you have to be much more focused.”

“So we have almost 40,000 paying users, and then that's the proxy for that.”

“We have month one retention that's better than ChatGPT's month one retention on paying customers, and so it's about 85%.”

“When we went on to iterate over the coming year, we packaged together all of these things so that you can ask today lovable, I want to build a basically a SaaS business, and then people have built their entire SaaS companies and get made money by just promptin…”

“Thinking that we should change the culture and become a more of a scale up something slow moving or like more management layers when we became 40 people. That's, that was the biggest mistake I did.”

“So they, I think for us, there are two different types of user interviews. We have this type where we just see them use the product and see, like, where do they understand the product? And so that's more of a user experience interview. And the other one is to …”

“You should say no to as many things as possible and make it more of like an apple feeling. The things you do them superb.”

“Here again, like I have a very wise person who was like, no, dilution doesn't matter so much. It's all about the size of the pie. And I think that was, I was both affected by that advice as well as my, like, no, minimize dilution. This is my life, life's work.…”

“It's the number of users that go all the way to getting, like, users on what they built. Getting, getting something hosted with users on what they built. That's what we focus on.”

“The best people that you can hire at a young age, they would go on and become founders, and then you can't hire them anymore, right? So, so that's why junior people are often quite good.”

“When I look at tools like bold and lovable, the category itself has something where it seems obvious that there will be a lot of money spent there. Just because like, when you see some of the examples of what people can do with those tools that they just could…”

“When the cost of building an e-commerce that looks like any of the current brands today goes down to like, just Ask Bolt to do it for you. Ask Lovable to do it for you. And you have that. Those brands are going to have to come up with something much more engag…”

“When we did Lovable, I think it trebled its revenue by the time the round had completed, and I was like, I would want to retrade on price. Like, it literally was only a 10 X revenue multiple when we did it.”

“And I think when you look at consumer and prosumer, yes, for that individual user, you may only be on 87% revenue retention, but what then happens is you build a product on Lovable, you then share it with a bunch of your friends, a handful more people sign up …”

“Yeah, I think PMs move to either growth, so you combine the PM role with marketing, and depending on your size and how strong your engineers are, you do more or less of the PM, or many PMs will actually move towards product engineering, which is they're somewh…”

“And I think Retool is kind of dead at the wheel at the moment. I don't hear the recent things they've been launching, and so I could imagine Loveball going in that direction.”

“I think with time, they're going to need to build out more and more tunables, more and more ways to configure the product with time. But I think for us, if we can deeply understand code, like large code bases, it'll naturally follow that with very little effor…”

“The things that the lovables and figmas do as like maybe a very small fraction of what software is. Like ultimately, like most software is not just like a website that, that it has like some backend attached to it.”

“They're putting a billion in, right? That's much more ambitious than throwing a growth fund throwing fifty million into the last round of Anthropic, right? Or throwing twenty million into Lovable. It's a big bet, right?”

“I think Rapplet is for much more heavy-duty application build-outs, and I think Lovable is much more for lightweight, bluntly front-end software build-outs, and both have very valuable positions in market, but they're just very different use cases.”

“I don't see Claude as being as good as Lovable or Repplet. I think it's much more between Repplet and Lovable”

“Why did I write a twelve million dollar check into Lovable? I think very much in the same way that ChatGPT owns the consumer brand for that front end OS for the modern consumer, I think Lovable's reached escape velocity with the consumer brand in this space”

“Jason, when I did the last round of Lovable, it was a two hundred million price, and I did it at a four million in revenue. By the time the deal was closed, it was at nineteen million in revenue.”

“If I could invest in Replit or Lovable at two billion compared to Windsurf, it seems like a much better deal. Like, I think it's, I think it seems cheap.”

“And so lovable and friends are going to build these thicker and thicker wrappers because they have to do security, right? They have to contain the AI. They're torturing Claude to do things it doesn't want to do. Claude wants to lie and seek out things and shar…”

“Today, they're great partners. It doesn't make sense that they will be great partners for prototyping in 12 months. It makes no sense.”

“First, I have no doubts. That's easier to do the math. One to a hundred in six months. I mean, that would be a colossal F-up if it doesn't get to 400.”

“The stuff I see, Jason, is there's a ton of prosumer stuff that's working. Lovable's working. Reflet's working. Gamma's working. Like, so many prosumer things seem to be working. And then enterprise is working. You're right. I haven't seen much in between.”

“In the context of lovable I thought we should be building an agent Before, like, the models were ready for it, and because the models were starting to get optimized for an agentic system, and what I realized is that, no, no, no, you need to have a product that…”

“And 80% of people are in the first category. They're building real complex applications.”

“I don't give you the exact numbers, but if you look at the paid usage, it's majority, it's not everything.”

“I mean, it's your perfect co-founder that you go to with your idea from the idea stage, but also all the way up to growing your business once you have customers and taking care of like what Elena is doing, optimizing the product for growth, optimizing the prod…”

“We looked at, like, the number, this was a few months ago, but we looked at how much Revenue is flowing through the AI from lovable applications. Okay. And it was more than ten million dollars in ARR.”

“And then we use for code writing, we usually use Anthropic. And right now you can say like, I want to use GPT-V and that's better when you're solving a really hard debugging problem.”

“Lovable today is your technical co-founder. We want it to be your co-founder in general that handles all the admin, setting up your finance operations”

“And we have to do it both with like how we build this agentic chain and over time in building absolutely world-class paying a hundred million dollars for getting the people that train the models. So, so that's on the horizon for us to get it to like be hyper-p…”

“OpenAI is doing that better than Anthropic. So I see them as a more serious competitor in, in, in 12 months.”

“We're the mostly used interface for humans to AI.”

“I do think there's like a fifty-fifty chance they will have the best model. We'll be using a Chinese model at some point, because...”

“13 days later, the exact same company called Replit. That's the one I use. Same company closes at three billion. Basically the same ARR, basically the same company.”

“In the age of AI, you can't buy glean's unsellable, unacquirable, right? Lovable's unacquirable. Replets unacquirable.”

“And that's why lovable and Replit are in a death match. And it's very powerful. They're both at nine figures in revenue. They won't kill each other.”

“I would say over, over two 50, but barely.”

“Lovable had their first year anniversary today. Oh, the other day. And I thought that was insane. First year anniversary, over a hundred and seventy million an hour.”

“If you look at a Rapplet or a Lovable, 80% of their pass-through is too anthropic.”

“Replit and Lovable, frankly, are using cheap models. Most people don't know or care, and they're well marked up. The margins are north of 50, the gross margins, okay?”

“I'm not worried about those three.”

“As these guys grow, their NRR will go up and the churn will go down, just because for classic enterprise reasons, those big customers are going to be stickier.”

“In the absence of data to the contrary, the prior is that the AI first company has the edge in terms of growth, so I'll go at lovable at the margin, but I'm a bit nervous at six billion, just to be clear.”

“I'll say Lovable. And I'll tell you why. I think Superbase is benefiting by the trend of vibe coding. And Lovable is a bet fundamentally. It's in the front end monetizing on vibe coding. One of two things happens. Either vibe coding is a category or it's not. …”

“Claude figured that out. Cursor didn't figure this out. Replit and Lovable and Bolt didn't figure it out. I can tell you the story. Claude figured it out. Anthropic, the guys, you know, once they quit OpenAI, they figured it out and everyone grafted on this, i…”

“I think our teams use Lovable more than Replit. I personally use Replit more than Lovable though.”

“No one built a game changing B to B app with nine figures of revenue on lovable or replet. I do believe it will come.”

“Yeah, I think PMs move to either growth, so you combine the PM role with marketing, and depending on your size and how strong your engineers are, you do more or less of the PM, or many PMs will actually move towards product engineering, which is they're somewh…”

“And I think Retool is kind of dead at the wheel at the moment. I don't hear the recent things they've been launching, and so I could imagine Loveball going in that direction.”

“I would much rather have a slower growing, permanent system of record that will never get ripped out than the fastest growing thing on the planet that has 9000 competitors that are all built and lovable by 17 year olds.”

“I guess I would probably bet on people working at that UX application layer already.”

“If you take, you know, again, to your example of, I'm sorry, my brain Figma, right? The maker, the next generation product tools like lovable, And Replit, right, they're doing three, four hundred million in space.”

“That lovable and replet should not be owning product prototyping and development for product people. Figma should own this. They don't. They missed a whole generation. Here. And that's the, that ties into all of this. Figma, can't argue with Figma today. That …”

“When we did Lovables A, it was like at three million in revenue. By the time the legals were done, it was at 20. And so the multiple had gone from 70 x to 10 x.”

“Pre the round that Xenia did, because we were in the round before, it was just embarrassing. I mean, like five to 10 a day and it is very awkward.”

“I know that that constant noise is part of our retention strategy. That constant noise is what drives a lot of resurrection for us as well, because people feel like it's a living, breathing thing that is constantly growing and evolving, and they always want to…”

“It's no longer about the software functionality that you're trying to grow. You're really trying to create what I call minimum lovable product out of every single little thing that you touch because software is now almost being judged by the emotion that it ca…”

“A lot of our costs are within our freemium, not with our paid marketing, not with employees, not with marketing or sales budgets. It's with Freemium, because we view Freemium as actually marketing channel.”

“Knowing the key predictive indicators that will lead you into the decline, not just looking at revenue, because when moment revenue starts declining, it's already too fucking late. So like, you need to know like beforehand, what will I see? What will lead? Wha…”

“Allowing flexibility in your monetization model for ad hoc purchases can mean the world of incrementality for your overall monetization capture potential. We just introduced top ups at lovable and it's been absolutely wild because in every other job I've ever …”

“I think that when the functionality was very expensive to produce, we could afford to obsess about competitors a little bit more. With the functionality and the speed of development happening so much faster now, it almost paves the way for you to just have a v…”

“At Lovable, we are committed to launching every day, so there's like ongoing buzz that is happening.”

“I think that lovable is where it is right now because of the founder led socials that Anton has really leaned into and has done at the beginning.”

“They are now at over three hundred and fifty million in ARR.”

“So our North Star metric is daily active apps.”

“Every single employee at Lovable expected to ship code to production.”

“Their latest round put them at over 6.6 billion dollars.”

“My biggest regret with our Series A fund is not being more elastic, disregarding the Series A mandate, and just saying I'm going to leverage the brand and the access that I have, arrogantly, forgive me for that, to get into super hot companies like your 11 Lab…”

“What Figma missed is I create this design. It's beautiful. I loop in the product team to approve it. And then I click a button, which it says push into full production prototype. And it just works. It works like, and you can, and the irony is Replit and Lovabl…”

“Lovable, so literally just before we came on, Lovable hit five hundred million of error. The number, number was wrong. So five hundred million of error with 146 employees.”

“So with Lovable, it's much harder because they haven't built the human centric software. I think it's much easier to add the LLM on top, especially as it becomes commoditized by all these major models.”

“Where you see a company go from zero to something like three hundred million in a year. I think we intercepted them around, well, we kind of got, tried to get in when they were around 30, 30 of error, but we around, we did was around one 50.”

“I firmly believe a big chunk of Replit and Lovable could have been Figma's if they'd done it.”

“Lovable, who raised a new round from Menlo. They're around the 607 hundred million ARR range too, raising at a 13.3 billion dollar price.”

“I had lunch with Anton Ossica from Lovable before he founded the company, and I just didn't see it. And I'll tell you one thing that I learned from that is I didn't come to the meeting with a plan. I just had lunch with him, and it was three of us and him, and…”

“And suddenly it's a 13 and a half billion dollar business at 607 hundred million of ARR.”

“Replit and lovable of a year ago and bolt were not a moat today. They have massive moats. And so I think it could easily happen with an instinct. All the use cases that has to accomplish become a moat.”

“This will seem cheap, When Replit's at fifteen billion, Lovable's at a hundred billion, everyone's out there because Linear will be the one powering them all.”