Table of Contents
Snapshot of Success:
- Founder: David Bressler
- Product: ExcelFormulaBot
- Founded: 2022
- Annual Revenue: $3M (scaled from $0 to $23K/month in just 7 months)
- Startup Cost: Only $196
- User Base: FormulaBot has attracted over 900,000 users since its launch. (source)
- Target Market: 1 billion Excel users globally
- Business Model: Freemium – basic functions free, premium subscription available (The platform boasts a 12% conversion rate from free to paid users. Source)
Hey there! Ever had that wild moment when you’re up at midnight rocking a newborn, and suddenly a million-dollar startup idea hits you?
Today’s story is exactly that — a first-time father who, during his paternity leave, built an AI-powered Excel formula generator. No code. No investors. No quitting his job. And yet, within 7 months, he hit $23,000 in monthly revenue! As of 2024, ExcelFormulaBot has achieved an MRR of $29.1K, up from $23K in 2023, reflecting a 26.5% year-over-year growth. source
Let’s unpack why this business worked, how David moved from side hustle to sustainable income, and what lessons you can take if you’re eyeing your own AI-powered startup.
Inspiration Strikes During Paternity Leave
In May 2022, David welcomed his second child, William. While on paternity leave from his job as a Director of Data Analytics, he began experimenting with trending AI technologies.
One night, he casually asked OpenAI: “What’s the formula to sum column A in Excel?” The system instantly returned the right answer.
And then it clicked — over 1 billion people use Excel worldwide, across industries like finance, accounting, and marketing. AI could help automate formula creation, but its 85% accuracy rate wasn’t reliable enough for serious data work.
Thanks to his analytics background, David realized he could train a more accurate model to deliver better results.
Even more exciting? A quick Google search showed no existing product like ExcelFormulaBot. A clear opportunity. David knew he had to move fast.
Startup Insight: A high-accuracy AI Excel formula tool met a major unmet need.
Market Proof: 1 billion Excel users + need for speed + zero competition = winning combo.
Building the MVP of ExcelFormulaBot with No Code
Though David had no web dev skills, he knew being first-to-market was critical in the AI race. So he whipped up a super basic MVP using Bubble.io — a no-code platform.
His first version had only:
- An input box (for user requests)
- A generate button
- An output field (for the formula)
- A copy button
Still, it worked. He posted it in Reddit’s Excel community and boom — it went viral. The post spread like wildfire, eventually reaching TikTok, Instagram, and Twitter.
But growth came with a price: his API bills with OpenAI skyrocketed. Since he had no paywall or login feature, thousands were using it freely — and it was costing him a fortune.
David quickly added a “Tip Jar” donation button. Hundreds of users chipped in, and their generosity helped cover his emergency expenses.
Lesson: You don’t need to code. Use no-code tools, test quickly, and let real users guide improvements.
Launching the Full Product and Monetizing
After months of grinding, David turned his MVP into a full-fledged subscription product — complete with logins and paywalls.
On launch day, he was nervous. “Would anyone actually pay for this?”
Answer: Yes. Within five minutes, he got his first paid subscriber.
His freemium model was simple:
- Free Tier: 5 formula requests/month (enough for 97% of users)
- Premium: Unlimited starting from for $2.99/month (about 3% converted)
He debuted on ProductHunt with a steep discount, and by the end of the first week, thousands of dollars were rolling in.
Key Metrics: Reached $23,000/month in just 7 months — and still growing!
How ExcelFormulaBot Went Viral With Minimal Marketing
The wild part? David spent only $5,000 on marketing and still attracted millions of users.
Here’s how:
1. Influencer Power
As a data guy, David was skeptical of influencer marketing. But TikTok proved him wrong. Creators called his tool things like “too good to be legal” — sparking viral attention. Big influencers led, small ones followed. He collaborates with TikTok influencers, including one with 4.5 million followers, significantly boosted user acquisition. Source
2. Strategic KOL Selection
- Used TikTok Creator Marketplace to find aligned creators
- Focused on U.S., UK, and Canadian audiences (where paying customers are)
- Chose creators in finance, data, and accounting — not just tech
- Ignored follower count; prioritized engagement rate
3. Smart Social Media Tactics of ExcelFormulaBot
On Twitter, David jumped into Excel conversations and set alerts to reply to influencer tweets instantly — boosting visibility organically.
Retention and SEO: Long-Term Growth Moves
While virality drove early traffic, David knew retention was key.
His retention playbook:
- Personalized onboarding journeys based on behavior, registration age, and user type
- Email re-marketing to re-engage users
- Clear branding: “Excel Formula Bot” is direct and memorable — driving tons of direct searches
Lately, SEO has become his focus. He’s creating pages for specific formula types like “VLOOKUP” and “SUMIFS,” and already landed backlinks from top sites like PCWorld and Inc.
A funny SEO twist? David noticed people were Googling made-up terms like “Excel AI Generator” — keywords that didn’t exist before his tool. That’s the power of category creation.
Marketing Takeaway: If you invent a new product type, you shape how people search for it. That’s SEO gold.
What Founders Can Learn from David Bressler
David shared 3 golden lessons for any AI-era founder:
1. Don’t Start From Scratch
Borrow UX elements from successful SaaS sites — they’ve already tested what works. Combine ideas and create your own spin.
2. Gradually Raise the Barrier
Start with free and open use. Then:
- Require logins
- Add usage limits
- Introduce subscriptions
Let people fall in love with your product before asking for money.
3. Offer Full Trials, Not Feature Blocks
Don’t lock features. Let users experience the entire product. If they love the premium functions, they’ll pay to keep them.
Tools David Recommends:
| Category | Tool |
|---|---|
| Website Building | Bubble.io |
| Payments | Stripe |
| Localization | LocalizeJS |
| Email Marketing | Sendinblue |
| AI Engine | OpenAI |
| Video Editing | Screen Studio |
| Learning | YouTube |
Actionable Takeaways from This Case Study
| Lesson | What You Can Do |
|---|---|
| Build Fast with No-Code | Use tools like Bubble.io to launch MVPs in days |
| Start Freemium | Let users try before they buy; limit later |
| Leverage Influencers | Focus on engagement, not follower count |
| Target Communities | Post on Reddit, ProductHunt, and Twitter to get traction |
| SEO for the Win | Create helpful content around user queries like “how to use VLOOKUP” |
| React Fast to Growth | Have a monetization plan ready when virality hits |
Final Thoughts
David’s journey proves that you don’t need to be a coder, raise funding, or even quit your job to build something amazing.
With no-code tools, AI power, and smart marketing, anyone can turn a side idea into a serious income stream.And remember: first movers in AI have an edge. If you’ve got a good idea — act fast.
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