Lovable, a fast-growing European vibe coding startup, told TechCrunch that it has surpassed $500 million in annual revenue.
Lovable’s revenue was last discussed by the company in February He said that it exceeded 400 million dollars. In August 2024, Lovable said it could reach $1 billion in annual revenue within 12 months. It may not double that number in the summer, but it still represents a jaw-dropping increase; The company, founded in late 2023, has not yet celebrated its three-year anniversary.
The company also claims it has been used to build more than 50 million projects, and reports that usage is accelerating to one million new projects per week. according to survey of those projects Lovable, on the company’s blog, says its users are mostly creating software that is non-technical, but increasingly intended to make money or use in their business.
Its users are founders, designers and sales people who build websites and e-commerce storefronts, as well as internal tools such as CRM, inventory systems and HR platforms, the company says.
This list tells a story. AI vibe coding platforms have been perceived as a threat to legacy SaaS software. Why buy expensive annual contracts when you can code yourself? Lovable’s survey provides some insight into whether this is actually happening. Of course, Lovable—and therefore most of the projects built on it—aren’t old enough to answer the more difficult question about vibe-coded software: Will such an approach be short-lived? That’s because it’s not the initial construction part that’s the problem – it’s the maintenance part.
Software functions almost like a living organism: even well-written, well-designed code that isn’t AI-related runs on top of an ever-changing stack of dependencies, third-party services, and infrastructure—all of which are constantly being updated, which means end-user software is always broken. This is why many companies choose to buy instead of build. They want others to be responsible for making it work. We’ll have to see if Lovable and other vibe coders will transparently report abandoned projects as their platforms mature – things that aren’t flattering, for example. If these dropout rates are low, it will be A true indication of the so-called SaaSpocalypse here and here to stay.
When you purchase through links in our articles, we may earn a small commission. This does not affect our editorial independence.
