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Formula Bot
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Source
Researched profile. Starter Story's AI research system compiled this page from 9 public sources — the founder didn't write it. Automated research can misread or misattribute a source, so treat figures as best-effort. How this works →
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How Formula Bot Makes Money

AI tool that generates Excel formulas instantly

How did Formula Bot monetize?

Summary of the sourced claims below

Formula Bot monetized primarily through recurring subscriptions, offering unlimited formula requests for a monthly fee to heavy Excel users while providing limited free requests to most users. Additionally, the founder received donations and tips from users who appreciated the service. The business also generated revenue through affiliate partnerships with complementary Excel-related websites.

Revenue sources

7 sources · grouped by how Formula Bot makes money

  • Recurring subscriptions

    · 7 mentions · 6 sources
    “users are limited to five formula requests per month. That’s enough for 97% of the users, but the remaining 3% are heavy Excel users that received unlimited formula requests, which costs $6.99/month. Since launching in September 2022, Excelformulabot monthly recurring revenue has exceeded $14K.”
    high
    Show 6 more quotes
    “While the website is free to use, users are limited to five formula requests per month. That’s enough for 97% of the users, but the remaining 3% are heavy Excel users that received unlimited formula requests, which costs $6.99/month.”
    high
    “I still get 5% of the customers that subscribe, they churn about 10% of those say, well, the reason I churn is because of chat GPT.”
    high
    “And during that time, there's now roughly about 750,000 users. And of those 750,000, there's about 5,000 people that pay for unlimited access to the tool. And during that time, it's reached about $26,000 a monthly recurring.”
    high
    “David also shares his journey bootstrapping Formula Bot to over $1M in revenue as a solo founder...”
    medium
    “David also shares his journey bootstrapping Formula Bot to over $1M in revenue as a solo founder”
    medium
    “75万ユーザー、有料会員10,900人の獲得戦略”
    high

  • Donations & tips

    · 3 mentions · 2 sources
    “I put up a link, like a Stripe link, where it's just like, hey, my name's David. I built this app. It went viral. Give me a deal. Feel free to donate. So I made a few thousand dollars back.”
    high
    Show 2 more quotes
    “I knew it would take several months to start making money on the site, so I set up a donation page to allow users to “tip” me for developing the service. I received a couple of thousand dollars in tips from a couple of hundred users, which was absolutely amazing!”
    high
    “I set up a donation page to allow users to “tip” me for developing the service. I received a couple of thousand dollars in tips from a couple of hundred users, which was absolutely amazing!”
    high

  • Affiliate / referral commissions

    · 2 mentions
    “diversified revenue streams by partnering with complementary affiliates - Excel courses website and Excel templates website.”
    medium
    Show 1 more quote
    “The gross profit has increased each month with increased subscribers, optimized costs, and diversified revenue streams by partnering with complementary affiliates - Excel courses website and Excel templates website.”
    medium

  • Services & consulting

    · 1 mention
    “They would literally email me their Excel files. They're like, hey, your Excel formula generator couldn't do this. Can you help me with this?... I'm going to do it with you on a phone call and I'll do your work for you.”
    medium

  • Sponsorships & partnerships

    · 1 mention
    “And so some of the donations that came in, a couple of sponsorships, it gave me the motivation to kind of keep going and not just completely shut this thing down.”
    medium

  • One-time / lifetime deals

    · 1 mention
    “With a heavy discount to celebrate the launch, the site generated several thousand dollars during the week of the launch.”
    medium

  • Advertising revenue

    · 1 mention
    “So I ran some Google ads, made a few bucks here and there. It just, it definitely wasn't worth the hassle. But I ran an ad for ESPN for like a week and it drove a ton of clicks.”
    high

How 1,889 businesses make money

Of businesses with mapped revenue sources, the share using each — Formula Bot’s highlighted.
  • Recurring subscriptions
    54% ◀
  • Services & consulting
    30% ◀
  • Physical products
    28%
  • One-time / lifetime deals
    24% ◀
  • Affiliate / referral commissions
    15% ◀
  • Course / training sales
    13%
  • Sponsorships & partnerships
    10% ◀
  • Usage-based fees
    9%
  • Advertising revenue
    9% ◀
  • Add-ons & upsells
    9%
  • Marketplace commissions
    6%
  • Licensing
    2%
  • Setup / onboarding fees
    2%
  • Donations & tips
    2% ◀
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