Bolt.new ARR at $20M in just 2 months
AI programming tops the AI adoption rate
The pace of development in the field of AI programming has exceeded most expectations, transforming how software is created and opening doors to unprecedented growth.
In Menlo Ventures’ annual AI report 2024: The State of Generative AI in the Enterprise, AI spending surged to $13.8 billion this year, more than 6x the $2.3 billion spent in 2023.
And AI programming was identified as the most valuable enterprise application, with an adoption rate of 51%. Recent examples highlight just how transformative this sector has become.
GitHub Copilot and Cursor: Market Leaders in AI Programming
GitHub Copilot, a trailblazer in AI programming, surpassed $300 million in annual recurring revenue (ARR) in August.
Meanwhile, Cursor has shown even more staggering growth. Starting with $4 million ARR in April, it climbed to $4 million monthly recurring revenue (MRR) by November—an ARR equivalent of $50 million.
Some reports now estimate Cursor’s ARR at $65 million, further solidifying its place as a leader in the market.
New Entrants Making Waves
Innovation in AI programming tools continues to accelerate. Google recently launched Jules, an AI agent for programming, while Cognition unveiled Devin, priced at $500 per month.
Lovable made headlines by reaching $1 million ARR within just 8 days of its launch.
However, the most astonishing news came to my eye: a new AI programming tool achieved $20 million ARR in just two months, potentially making it the fastest-growing SaaS product in history.
The company behind this tool is currently raising $80–100 million in funding, with a valuation likely exceeding $1 billion. Multiple term sheets have already been secured in the first week of fundraising, a source said.
Bolt.new: The Game-Changing AI Programming Tool
This rapidly growing tool is Bolt.new, developed by StackBlitz. Its ARR skyrocketed to $20 million within two months, a feat confirmed by its co-founder Eric Simons during a podcast conversation with Sarah Guo of Conviction.
Notably, it is said that Sarah Guo was an early investor, backing the company at a $12 million valuation. If this valuation is accurate, her investment could deliver a nearly 10x return in under a year.
Remarkably, StackBlitz was on the brink of running out of cash just six months ago. Now, Bolt.new is a runaway success, attracting nearly 200,000 users per week. Eric refers to these users as “software creators,” and he believes the potential market could grow to 100 million people.