00:00The shift we're fundamentally seeing is that building things has been the biggest
00:04blocker for businesses and many individuals are now discovering how much
00:11you can get done when you build software without being bottlenecked by not being
00:15able to code. So the individuals are the ones who have discovered the
00:19power of lovable and they are taking it into their work, into the enterprise and
00:24at the same time we're seeing people who discover lovable from their colleagues
00:29and bringing it out into their small businesses through their personal use
00:33cases. So we're focusing on making the enterprise adoption much easier over the
00:39over the coming months. As you say there are all of these companies that are now
00:43even listing lovable in job requirements as they're hiring more people and at the
00:50same time we're supporting both of these groups. So Anton on the security part of
00:55enterprise how do you make sure that AI developed apps are both secure and
00:58auditable? So I love that you bring up auditable. So one part is of course that
01:06the software that's being created with lovable does not have security
01:10vulnerabilities and that's something that has been traditionally very difficult to
01:13guarantee because us humans it takes a long time for us to verify that not
01:18something is secure. What we're starting to see is that AI can much faster
01:22validate if code is secure. Currently we don't have a hundred percent guarantee that
01:30something does not have a security vulnerability. It's in the same way that
01:34your iPhone might have a security vulnerability right now but we're seeing
01:37that AI is going to be able to do this better than better than humans. And then the
01:42other part is the data and being able to audit who has access to which data and
01:48that's something we're pushing forward a new standard for how you give access to the AI
01:56and how you give access to AI agents and how you give access to humans of which data in
02:01your enterprise which is currently a huge pain point where configuring who has access to what
02:08has been a blocker for productivity in large companies, medium companies and even in the government.
02:14Anton, I want to get some growth stats from you. So you famously hit a hundred million dollars in
02:19annual recurring revenue that milestone within just eight months. You doubled that four months later.
02:23What is annual recurring revenue looking like by the end of this year and what's your target for next year?
02:28So I'm looking forward to see what happens next year but what I can say is that we've more than tripled the revenue
02:38since our last fundraise and so far this year since we decided on taking the investments from this round
02:47we beat our projections and what we're focusing on now is just to make our customers as successful as possible
02:56because we're doing this for the coming decades as we think that we have an opportunity here to architect
03:04how do we, humans, build software? And that's going to be a very, very long-term effort. I think it's early days
03:12in everything that we're doing and that's why we're so excited to partner with the current investors that are coming on.
03:18Anton, let me push you on the ARR. Are you at 300 million right now or above that?
03:23I'm looking forward to getting way past 300. As I said, we announced 200 like a month ago and we're way beyond that right now.
03:38Okay. It's a competitive space, Anton, and one of your main competitors' cursor valued at almost 30 billion US dollars.
03:46What differentiates you from the competitors and do you see consolidation in space or is this a winner-take-all?
03:53What we're hearing from everyone who loves Lovable and uses Lovable is that it just works.
04:01There is a lot of complexity under the hood that Lovable is reducing while using that simplification to ensure certain standards.
04:11For example, in terms of security and how the applications on Lovable are built to be secure and have AI included from the get-go.
04:20So there's this simplicity that we think is the future of how us humans will want to build software.
04:27And as for how this looks in the future, there are piles of gold in what value you can unlock for businesses and for individuals across the board.
04:39We are ensuring that we create an interface that can be used by everyone, by CEOs, CROs that are building their command centers in Lovable right now, as well as your mom and pop store that's creating a new website for this.
04:54Anton, what stops OpenAI and Anthropic replicating what you do?
05:00So it's a very complex product that we're building and that's something that we're seeing when people try Lovable, that all of this complexity is boiled down.
05:12Maybe there's some Scandinavian design taste that people talk about that makes people just keep coming back to Lovable and absolutely love their experience.
05:20Okay.
05:22Anton, I want to try and fold two questions into one.
05:26One is, you get asked this all the time, but your view probably changes because the environment changes.
05:31Who are the losers and who are the winners when it comes to jobs as an impact to this?
05:35And how are you thinking about an IPO?
05:38Okay, so the winners I think is what we're seeing since we launched Lovable about one year ago is that there's a movement being spawned that everyone can create.
05:54And this is extremely empowering both to individuals in large companies and, for example, founders and educators for starting new companies and new economic opportunities.
06:06I think this is truly an example of AI being a democratizing force where it was previously very difficult to collect a team that could create amazing software.
06:18Now, anyone, anywhere in the world can do that.
06:22And I don't see, I see this like democratizing force as something where there will be more winners and currently maybe some of the big winners are going to have a more competitive experience, which I think is very, very good for consumers.
06:39As for an IPO, it's not something we're looking at right now, but I'll be able to, I'll make sure that we're doing whatever decision is best for our business and for our customers.
Comments