The Exchanges

Q Nice. Well, suddenly you definitely had profit market fit. You had, you know, millions in revenue, millions of users of the platform. What made you decide to sell it?

A Okay. So, uh, it, it wasn't our, one of the, Or you can say it was a bit different from our product line. Uh, before Chartify, we hired two products and both of them are, were into the marketing, uh, industry. So we used to build something and have something in the long run that is very complementing to other products. In fact, we build products that complement each other in some way or another. So Chartify was kind of fun project for us and it went viral and we decided to sell it To fuel the cash for the other products, the main cost that we had. So that was our, one of the main goals. And then that, uh, that made us to decide to sell it.

AI assessment note: “we decided to sell it To fuel the cash for the other products”

Q Yeah, that's incredible. I love how a lot of the growth was supported by other users sharing the product and how they're using it. Um, did you do anything to support that? Or did it all just happen naturally and organically?

A Um, so we just, um, so it requires some initial push. Initial push was through the Reddit and that I told. So we, there, there are a lot of credits, right? So there is a Reddit for almost every character of any movie or season, or, uh, you can say any, any, et cetera. And there are, you can say celebrity based subreddits as well. So whenever people created Character, they can usually go to any subreddit and share the screenshot of the chat with that character in that subreddit. And before users, we also did that in different subreddit and I also asked people to try it out and give us feedback. And the one of the major things that differentiate us from the other competitors, it was the character memory. So actually, uh, 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, you say, Hey, I am Andrew. And after, let's say after 10 days, you ask your name, um, to the character, what's your name? He might have forgotten, right? Based on the, uh, application of the memory. But the ChatFi characters hold very good memory, and that was our big advantages. And a lot of people started using ChatFi from Um, came from the other parts due to the strong memory that we had.

AI assessment note: “so it requires some initial push. Initial push was through the Reddit”

Q Nice. How did you think about competition with those? Platforms. Did you do a lot of research on their products? You mentioned, uh, memory. I think that's super smart. Um, was there anything else that you did to differentiate or stand out?

A Yeah. So, okay. So I think, um, we figured out the, one of the main crucial part of the differentiation. Uh, actually, uh, you can talk to any character. You can simply ask AI to act like that character and you can have the conversation. But after, let's say, It's exchanges, exchanging 10 different messages. It might have lost, um, the, the memory or it cannot recall the previous message that you send at the very beginning. So that was a very common problem and also, um, the competitors were also facing that because we, we used to look into the subreddits of the competitors as well, what people are talking about and their experiences. So we cracked that part. Um, to our secret sauce. Kind of. So, yeah, so, so just where, uh, we've also put a lot of, um, personal marketing efforts on the Reddit by highlighting that part, and also people love to, okay, so the only crux between you and me is you know me, let's say, anything one year ago, and I know almost every kind of the conversation that we have together. So, there's the same experience people want from the AA character as well. They don't want to. So, yeah, so that's the, That was the biggest, um, differentiation and the important part of making this, um, story very big success for us.

AI assessment note: “we used to look into the subreddits of the competitors as well”

Q Nice. That's super smart. Tell me about the first week when you listed on Accord.com. What were your expectations? What did the first week look like for you?

A So, okay. So, uh, we are the first time founders, the kind of stuff like we, uh, we started building the product, um, even started our entrepreneurial journey when we were in the First, uh, sorry, second year of our university. We didn't have any, um, corporate experience, you know, so selling a starter was also our first, uh, first time experience on the acquire and maybe in the whole life. So there were kind of expectation, let's say we will get, uh, listed in some month, um, within hours and take the product, but we didn't know the depth, uh, of the documentation and how much Details you can go in, and for that, definitely the quiet people helped us a lot, uh, and, and the other thing would be the communication. So I had, uh, so I, I listened a lot of your videos as well on, on the communication with the buyers, and, and how to keep them engaging from time to time to make sure, and the lead is warm, etc. So those were the things that were a bit tough for us, and we successfully, uh, did after a couple of the training sessions from the, from you guys. The first First week was a kind of, you know, um, a lot of, uh, unclear things getting clear, uh, by watching your content and the team. And yeah, so this was a kind of a bit, uh, unpredictable stuff, but we are very glad to be getting done with it.

AI assessment note: “The first First week was a kind of, you know, um, a lot of, uh, unclear things getting clear”