AI startups earn their first million US dollars in revenue faster than their peers in other industries. This is clear from the results of a study by the fintech startup Stripe, writes the Financial Times.
Author:
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According to the study, AI startups reach their first million dollars in revenue in an average of 11 months of work, while other startups that once developed advanced technologies (for example, fintech in 2018) spent 15 months on this.
Stripe also estimated that AI startups reach $30 million in annual revenue within 20 months; the first startups in other segments took more than five years to achieve this.
According to Stripe statistics, 56% of AI startups’ revenue comes from outside the country in which they were founded. The slowness of large AI companies to expand their geographic footprint allows more flexible small startups to achieve revenue growth from zero to tens of millions of US dollars in two years, Stripe concluded.
Analysts at the payment system Stripe examined their own data obtained as a result of analyzing data from their customer base of the 100 largest AI startups by revenue as of July 31, 2024.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
