Lovable, an AI programming platform in Sweden, is rapidly rising. In an interview, CEO Anton Osika said the platform's user count is about to surpass 8 million, a significant increase from 2.3 million active users in July this year. Since its establishment, Lovable has seen more than 100,000 new products launched on its platform daily, showing strong market appeal.
The company's rapid growth has been supported by substantial funding, with a total of $228 million raised so far, including a $200 million financing round completed this summer, which brought its valuation to $1.8 billion. Although there have been rumors that new investors want to invest at a $5 billion valuation, Osika stated that the company does not lack funds and has not revealed specific financing plans.
During a recent online summit, Osika did not share current annual recurring revenue (ARR) data, but he announced in June that Lovable had reached a $100 million revenue milestone. However, research shows that as the programming trend gradually declines, traffic for Lovable and similar services peaked earlier this year and then started to decrease. Despite the challenges, Osika still emphasized that user retention remains strong, with a net dollar retention rate exceeding 100%, indicating that users are continuously increasing their spending.
Lovable's user base is very broad, with over half of the Fortune 500 companies using the platform to enhance creativity. At the same time, the platform has also attracted young users, such as an 11-year-old boy from Lisbon who created a Facebook clone for his school. Additionally, a startup founded by two young Swedish entrepreneurs on Lovable achieved $700,000 in annual revenue within seven months.
In terms of security, Osika admitted it is a major challenge in the current vibe coding field. He mentioned that a recent incident where an app leaked 72,000 images due to the use of vibe coding tools caused public concern. To address this, Lovable is strengthening its security team and improving the platform's security performance.
Facing competitors such as OpenAI and Anthropic, Osika believes the market is large enough to accommodate multiple winners. He said the current focus is on creating "the most intuitive user experience," allowing more people to develop products based on their own creativity. Despite the fast-paced environment, Osika focuses more on the team's mission and work culture rather than just market competition.
Key Points:
🚀 Lovable's user count is about to exceed 8 million, showing a rapid growth trend.
💼 Over half of the Fortune 500 companies are using the platform, driving creativity.
🔒 Security issues are being taken seriously, and Lovable plans to strengthen its security team to improve platform safety.
