This Site Gets 70M+ Visitors Per Year Using AI
Eightify is a Chrome extension uses AI to create YouTube video summaries.
Who is Alex Kataev?
Alex Kataev is the founder of Eightify.
He previously worked as a CTO for an EdTech company for seven years.
But he always had an interest in technology and AI and was particularly interested in GPT-3 early on.
So finally after 7 years of building up his skills and interests, he launched Eightify in late 2022/early 2023.
What problem does Eightify solve?
Eightify makes watching YouTube faster.
He uses AI to summarize long videos and gives users succinct summaries. This allows users to:
- Save time on learning, research, or entertainment
- Extract ONLY the key information they want
- Invest significantly less time watching YouTube
Niches
Founder-Market Fit
Skills
What skills did Alex Kataev have that led to their success?
Passions
How did Alex come up with the idea for Eightify?
Alex Kataev got the idea for Eightify after experiencing frustration with lengthy videos. At the same time, he realized the potential of AI, particularly GPT-3, to streamline content consumption.
He identified the need for a tool that could summarize videos quickly and efficiently, leading to the development of Eightify.
How did Alex build the initial version of Eightify?
- Davinchi-003 (GPT3.5)
- Chrome Extension (TypeScript)
- Frontend App (React)
- Backend (Python/Flask)
- AWS
- Docker
- Gitlab
- Metabase
- Postgres
- Stripe
What were the initial startup costs for Eightify?
Approximately $23K:
- $17,491: average costs for a chrome extension
- $5,000: Davinci (OpenAI GPT Access)
- $600: YouTube API
How did Alex launch Eightify and get initial traction?
Eightify publicly launched on ProductHunt, HackerNews, and Reddit. They had immediate success:
- 120 comments on HackerNews
- 884 upvotes on ProductHunt with a 4th place ranking
- 96% upvote rate on Reddit.
- Within the first day of launch, they had 900 users (immediate validation)
Eightify also utilized organic traffic from the Chrome Web Store and leveraged PR articles and reviews to attract users. The success of these channels contributed to the steady growth in user acquisition post-launch.
Today, they have over 100,000 users according to the Chrome App store.
What was the growth strategy for Eightify and how did they scale?
At first, he created excitement and got first customers by posting on ProductHunt, HackerNews, and Reddit.
Today, he drives 6 million visitors to the site every month. He does this by converting the YouTube videos summaries to SEO-optimized written articles.
What's the pricing strategy for Eightify?
Eightify operates on a freemium model by offering three complimentary summaries per week for videos up to 30 minutes in length.
For unlimited access, users can subscribe for $4.95 per month, with an annual subscription available at a discounted rate of $3.95 per month.
What were the biggest lessons learned from building Eightify?
Prioritize networking and early promotion: Engage with potential users and promote your product early on to gather feedback and build traction.
Launch quickly and iterate: Don't wait for perfection; releasing a minimum viable product allows you to gather valuable insights from real users.
Maximize resources wisely: With limited resources, focus on tasks that provide the most value to your business and prioritize them strategically to drive growth.
Listen to user feedback and adapt: Continuously gather feedback from users and be open to making adjustments to meet their needs and improve the product experience.
What platform/tools does Eightify use?
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More about Eightify:
Who is the owner of Eightify?
Alex Kataev is the founder of Eightify.
When did Alex Kataev start Eightify?
2022
What is Alex Kataev's net worth?
Alex Kataev's business makes an average of $45K/month.
How much money has Alex Kataev made from Eightify?
Alex Kataev started the business in 2022, and currently makes an average of $540K/year.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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