Pocket Deals #8 : AI SaaS that transcribes audio for use on multiple platforms.

About the business

In this edition of Pocket Deals, we’ll dive into an AI audio tool that generated over $17,000 in revenue in a month. The tool can accurately transcribe speaker clips in 17 languages, generating various content assets such as notes, summaries, blog posts, clips, social media content, and even sales collateral, allowing users to expand the reach of their content. It can also analyze the audio, to give key takeaways and quotes about the topic at hand which can be helpful for the audience to understand the content better.

Developed using Bubble, a code-free app-creating platform, the service has the unique advantage of being tweaked and updated by a non-technical owner.

Product appeal

In the age of modern social media, saying that people consume content in many different ways would be a huge understatement. Age, interests, education, and many other demographic factors all play a role in how we prefer to consume our media, making it difficult for content creators to know how best to reach their target audience.

The software featured today helps creators tackle this problem, allowing them to make the most of their hard work by finding interesting clips of podcasts to upload, or highlighting interesting quotes to then tweet out at a later date. This product isn’t just designed for content creators trying to go viral though, picture a coach who needs to clip important bits of a session or a salesperson timestamping and transcribing a product demo.

The software provides value to most people dealing with audio files which means that there is a huge base of potential users waiting to be tapped into.

Bizness pros

• Good product capabilities

• Proof of demand ($17,000 sales in peak month)

• Up-to-date UI

• Potential for growth with strategic marketing and product improvements

Bizness cons

• Downwards sales trajectory

• Lack of marketing

• Strong competition

Final analysis

The business’ asking price of $60k is based on revenue figures that are carried by a four-month purple patch that generated over 93% of the company’s TTM revenue. This information can be viewed positively or negatively depending on your expertise and confidence in your ability to return the company to its former glory.

If you have experience in marketing similar software and/or have a vision for improving the product to compete with other audio transcription apps, this could be a great pickup for you! If you’re looking for a more passive business that isn’t going to need immediate and drastic overhaul in the marketing and sales department though, I’d steer clear because reviving this business is going to be hard work.

In conclusion, if you've got a vision and a will to make this business work, I’d recommend buying it and taking a crack at reconquering the world of AI audio transcription!

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