Math Solutions Help & Expert Chat App w/ $500K MRR
For Sale in
Financial & Assets Details
About the Business
Business Description
Available for acquisition is an app (iOS/Android/Web) that helps and teaches how to do math homework fast and correctly. All users need to do is take a photo of the math problem or fill the equation in and press the enter button to get expert answers. The app’s key feature is 24/7 expert chat where a real math expert can solve a math problem step by step or answer questions sent by photo, text input, or drawing.
According to the report published by Facts & Factors, the global Online Education Market size was worth around USD 217 billion in 2022 and is predicted to grow around USD 475 billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.1% between 2023 and 2030.
NOTE - Financials shown are the run rate based on last three months. TTM is $9,360,227 revenue and $288,782 profit.
Highlights & Key Assets:
o The product combines the latest advanced AI algorithms that solve math automatically (about 59% of all tasks) and a high-quality experienced team of 500+ math experts who solve math tasks 24/7
o The average solution time is about 5 minutes which is at least 3 times faster than nearest competitors
o Very low supply costs: less than 7% of total revenue (average revenue generated from each solution is more than x10 the the cost for it)
o Subscription revenue: $500k average monthly subscription revenue (after all store/payment commissions)
o More than 80% of users are Tier-1 countries (mostly US)
o High-growing market of online education with Math as the #1 subject among US and other Tier-1 English speaking countries
o 4.6 rating with 9.6K ratings on iOS
o Team of experts
o Systems for hiring additional experts (Professional supply team that with automated processes of hiring, quality control and payments)
o Payment processing accounts (where transferrable)
Support & Training
The company owners are willing to offer a training period and will work with a new owner to ensure a smooth transition. And their team can provide transition support ongoing.
Reason for Selling:
The owners have a new business in a different niche that they launched six months ago. They are exiting this business to raise capital for growing the other business. They believe a new owner will be able to operate and scale this business more efficiently than they can.