Armenian company 10web is making waves in the world of website building by integrating generative AI models into WordPress, a widely-used content management system. This move aims to simplify the often complex process of website creation and management, particularly for beginners.
Key Takeaway
Armenian company 10web is leveraging generative AI to simplify website building on the WordPress platform, aiming to make it more accessible to a wider audience.
Revolutionizing Website Creation
10web’s innovative approach allows users to swiftly generate WordPress-based websites using simple text prompts. This is a significant departure from traditional methods, as WordPress, despite its popularity, is known for its steep learning curve and the need for advanced web design skills. Unlike platforms such as Wix and Squarespace, WordPress is open-source, requiring additional backend tasks and hosting services.
The Power of WordPress
Despite these challenges, WordPress remains a dominant force, powering approximately 40% of all websites on the internet. Its extensive customization options have contributed to its enduring popularity, especially in the realm of e-commerce, where it competes with platforms like Shopify.
Integrating AI for Enhanced Usability
10web’s engineering team, based in Yerevan, has integrated advanced generative AI models such as Llama 2, GPT-4, and Stable Diffusion into its platform. This integration aims to streamline the website-building process and make WordPress more intuitive for users.
Monetization and Growth
10web operates with a positive cash flow and has around 20,000 paying customers, with a total of 1.5 million sites generated using its platform. The company’s revenue model includes charging fees per website or based on traffic, with plans to introduce a payment system to facilitate transactions between users and their customers.
Strategic Advantages and Growth Projections
Armenia’s favorable location has contributed to 10web’s growth, with the company generating $5 million in annual recurring revenue and aiming to reach $25 million by the end of the next year. The abundance of affordable engineering talent in Armenia has provided a strategic advantage, allowing the company to access top AI talent while maintaining cost-efficiency.
Armenia’s Tech Hub and Global Reach
Armenia’s burgeoning tech hub, particularly in its capital city, has given rise to successful startups, with a focus on targeting the U.S. market. This trend is exemplified by 10web’s strategy of leveraging engineering talent in Armenia while expanding its marketing and business development efforts in the U.S. This approach has also proven beneficial for fundraising activities.
