Meet the man behind the amazing revival of InVideo, who's company was once struggling for 15 months, but this smart move became game changer, he is...

In a remarkable tale of resilience and innovation, SaaS startup InVideo was on the verge of shutting down, but a bold pivot led by its co-founder, Sanket Shah, made a daring turnaround that changed the fortunes of the business. Despite raising $53 million in funding, InVideo's growth had plateaued by mid-2021, with revenue remaining stagnant for nearly 15 months. However, the launch of InVideo AI in mid-2022 marked a turning point, propelling the company to achieve $70 million in annual recurring revenue (ARR).

During an interview with Moneycontrol, Sanket Shah said, “By mid-2021, we had started to plateau. From 2021 through 2023, we weren’t growing, we were on the brink of shutting down, that’s when we launched an entirely new product. The new product took off. InVideo AI was launched around August of 2023, and that’s where the magic happened.”

Sanket Shah's journey

Shah's journey began in 2017 when he founded InVideo along with Anshul Khandelwal, Panket Shah, and Harsh Vakharia with the goal of simplifying video creation for non-professionals. Initially, the company focused on automating tasks like script-to-video generation, scene transitions, and voiceovers using AI. However, it was the introduction of InVideo AI that truly revolutionised the platform, enabling users to create high-quality videos using simple text inputs.

Under Shah's leadership, InVideo has adopted a "hacker mindset" approach to hiring and scaling, prioritising individuals who can think independently, solve problems quickly, and deliver results without excessive oversight. This unconventional approach has enabled the company to iterate rapidly and launch new features at an aggressive pace.

Revealing his future plans, Shah said, “We are right now focused on extreme PMF (Product Market Fit). I don’t think we are actively looking to raise a round. We do get a lot of interests.”

InVideo's success

InVideo's success can also be attributed to the fact that it has tremendous appeal to small businesses and entrepreneurs. The platform's AI-powered automation and freemium model have made it an essential tool for creating high-quality, engaging video content. As Shah aptly describes, "InVideo is like a glass of cold water to someone in hell" for small businesses struggling with video creation.

Though he has seen remarkable revenue expansion, Shah is still dedicated to going after extreme product-market fit (PMF). To him, actual PMF is not merely revenue expansion but rather making a product that scales automatically, needs little intervention, and becomes a no-brainer for users.

Sanket Shah's future goals

As InVideo grows, Shah recognises the challenges that lie ahead, such as the fast-changing AI environment and increasing competition. However, with a solid foundation, hacker culture, and a focus on addressing real-world problems, InVideo is poised for its next leg of growth.