Khan: ChatFi Received Around Three Acquisition Offers Before Selecting Buyer
“We had around, I think three three to five interested buyer. We got around three offers, I think, and four to five buyers for, we had a lot of detailed discussions, but we decided one of the buyer that was very suitable.”
Khan: Startup Founders Must Close Acquisition Deals As Quickly As Possible
“The best thing I think What you should do is get the deal close as soon as possible. Because since it's a space, it's very unpredictable and it can happen with any industry as well. So as soon as you list the product, try to get a couple of interested buyers. …”
Khan: Persistent memory differentiated ChatFi from early AI competitors
“And the one of the major things that differentiate us from the other competitors, it was the character memory. So actually in the AI world, If you look at the one to two years back, it was very tough to hold the memory. For example, if you talk to a character,…”
Khan: ChatFi spent zero dollars on paid marketing during initial growth
“We didn't spend any penny on the paid marketing yet.”
Khan: ChatFi hit one million users within one year
“Within, within one year, we hit one million users.”
Khan: ChatFi MRR grew from $5k to $20k in two months
“Within two to three months I remember the first month it was, the MRR was around 5000 dollars, then the second one it was around 20,000 dollars, then the third month it was going exponentially”
Umar Khan: ChatFi was acquired on Acquire.com
“Later on, ah, we built another product, and ChatFi is our third product, and that recently got acquired on acquired.com.”