Lovable, the Stockholm-based AI coding platform, is closing in on 8 million users, CEO Anton Osika told this editor during a sit-down on Monday, a major jump from the 2.3 million active users number the company shared in July. Osika said the company — which was founded almost exactly one year ago — is also seeing “100,000 new products built on Lovable every single day.”
The metrics suggest rapid growth of the startup, which has raised $228 million in total funding to date, including a $200 million round this summer that valued the company at $1.8 billion. Rumors have swirled in recent weeks — potentially sparked by its own investors — that new backers want to invest at a $5 billion valuation, though Osika said the company isn’t capital constrained and declined to discuss fundraising plans.
Speaking to me onstage at the Web Summit event in Lisbon, Osika notably didn’t share another number: Lovable’s current annual recurring revenue. The company, which uses a mix of free and paid tiers, hit $100 million in ARR this June, a milestone it trumpeted publicly. But questions have emerged since about whether the vibe coding boom is sustainable.
Research from Barclays this summer, along with Google Trends data, showed that traffic to some of the buzziest services, including Lovable and Vercel’s v0, had declined after peaking earlier this year. (Traffic to Lovable was down 40% as of September, according to the Barclays analysts.) “This waning traffic begs the question on whether app/site vibecoding has peaked out already or has just had a bit of a lull before interest ramps up,” they reportedly wrote in a note to investors.
Still, Osika insisted retention remains strong, citing more than 100% net dollar retention — meaning users spend more over time. He also said the company has “just passed” the 100-employee mark and is now importing leadership talent from San Francis …