Plaud, a company that makes AI-powered notetakers, has achieved significant traction in its software business, with its annualized revenue run rate surpassing $100 million. The company said it has sold more than 2 million of its devices, including Plaud Pins and credit-card-styled gadgets that stick on the back of the phone. According to Plaud, its devices, which don’t have any screens, help people have conversations in real life and recall important points along with summaries and action items later. "Most AI companies have scaled through software behind a screen. We took a different path. The conversations that actually move things forward don’t happen on a keyboard. We built the interface for the post-screen world. And the market validated it," said Nathan Xu, co-founder and CEO of Plaud.
The company has expanded its product line, launching the $179 Plaud Pro last year and adding the new Plaud Pin S at a similar price this year. In addition to hardware, Plaud has accelerated its software development, introducing a desktop app that can take Granola-style notes via system audio for online meetings. Last month, it also launched Plaud Teams with shared memory to target enterprises. Users can buy the hardware and get 300 minutes of transcription for free. However, if someone has many meetings a day, the free limit is likely to run out quickly. For extra minutes and other features, users can get monthly, annual, or add-on plans.
Xu noted that its revenue is largely powered by nearly 50% of the device users upgrading from the basic plan to the pro or unlimited plans. The company doesn’t yet sell standalone software subscriptions. That means, typically, it’s the users who own a Plaud device who are buying its paid plans. The meeting note-taking hardware market has a lot of competition, including accessories company Anker, Transsion-backed Viaim, Sequoia China-backed Vibe, and YC-backed Pocket.
Source: techcrunch
