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Mobile Startup Cyprus
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Profitable AI Study App that Turns Notes into Quizzes — $223K ARR, 45% Growth

P&L Documents (1)Supporting files (4)
Asking Price
$289k
Multiples
2.7x profit
The asking price divided by TTM net profit.
Learn more about multiples
1.4x revenue
The asking price divided by TTM gross revenue.
Learn more about multiples
Annual Growth Rate
+45%
TTM Revenue
$212.1k
Profit
$108.8k
Last Month's Revenue
$21.3k
Profit
$12.8k

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Cyprus

Profitable AI Study App that Turns Notes into Quizzes — $223K ARR, 45% Growth

This profitable iOS study app helps students turn their own notes into interactive quizzes in seconds. Users simply upload a photo or PDF, and the app creates practice questions based on what they are actually learning, making studying faster, easier, and more engaging. The business is already proving strong demand with recurring subscription revenue, healthy profit margins, and solid growth. Its simple value proposition is easy to understand, easy to market, and highly suited to short-form social content, which has already become a successful customer acquisition channel. ✅ $223K ARR with $212K TTM revenue and $108K TTM profit ✅ 45% growth with a simple B2C subscription model on the App Store ✅ Clear, student-friendly product that solves a common pain point: making study questions takes time ✅ Fast content-to-quiz experience creates a strong “wow” moment for new users ✅ Proven creator-led marketing in Norway and Sweden, with room to expand into more countries ✅ Major upside from launching Android or web, improving paywalls, and adding win-back/lifecycle marketing
Asking Price
$289k
Multiples
2.7x profit
The asking price divided by TTM net profit.
Learn more about multiples
1.4x revenue
The asking price divided by TTM gross revenue.
Learn more about multiples
Asking Price Reasoning
2.7x TTM EBITDA of 108,808 USD. The TTM includes a full summer off-season, so the price isn’t based on peak months. Margins are high (77% of net revenue) because the app runs on managed services with no staff or salaries for a new owner to take on. 67% of subscribers are on yearly plans. Acquisition is proven: 29,999 USD of marketing produced 5,760 paid subscription starts (5.21 USD each). All figures are verifiable via read-only RevenueCat and App Store Connect access.
Recent performance
TTM Revenue
Trailing twelve month (TTM) gross revenue.
$212.1k last 12 months gross revenue
TTM Profit
Trailing twelve month (TTM) net profit.
$108.8k last 12 months net profit
Last Months Revenue
Total gross revenue last month.
$21.3k last month gross revenue
Last Months Profit
Total net profit last month.
$12.8k last month net profit
Customer metrics
Total Downloads
The total number of app downloads to date.
87.1k Total Downloads
Monthly Active Users
The number of unique users active over the last month.
10K-25K MAU
App Store Rating
The current average app store rating (out of 5).
3.4 App Store Rating
Annual Growth Rate
The percentage change in revenue over the last 12 months compared to the previous 12 months.
+45% Annual Growth Rate
Paying Users
The number of users on a paid plan.
1,000-5,000 Paying Users
Company overview
Date Founded
October 2025
Team Size
Small (2-20)
Business Model
  • Business-to-consumer (B2C)
B2C subscription app: weekly and yearly auto-renewing App Store subscriptions. Direct-to-paid, with no free tier or trial.
Tech Stack
  • React Native
  • TypeScript
  • Convex
  • RevenueCat
  • AppsFlyer
  • ‎Google Gemini
  • Expo
React Native (Expo) TypeScript app using Convex backend, RevenueCat for subscriptions, AppsFlyer for attribution, Google Gemini for AI features. Vercel for website hosting.
Growth Opportunities
  • Social media marketing
  • Expand to new markets
  • Improve conversion rates
  • New product features
- No Android or web version yet. - The app is English-only with no localization, though quizzes follow the language of the notes. - Most subscribers are in Norway and Sweden, where our creator marketing works. Other countries are open to a buyer with creators there. - Direct-to-paid with no free trial, only one paywall test, and no win-back or lifecycle messaging.
Competitors
  • studyfetch.com
  • studley.ai
  • studyflash.com
  • astra-ai.co
Key Assets
  • Codebase
  • Intellectual property
  • Mobile application
  • Website
  • Domain
  • Brand
  • Customers
Acquisition details
Selling Reasoning
  • Starting a new venture
Financing
  • Bootstrapped

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