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WeLoveNoCode is a service for developing sites and applications without the need to make changes to the program code. The platform automatically selects performers for small businesses by monthly subscription. By May 2021, the platform operates by subscription: users pay $9 in the first week, after - $1599-1999 per month. 168 specialists from the USA, Great Britain, Russia, Finland and Ukraine cooperate with WeLoveNoCode. It is headquartered in London.
The founder of WeLoveNoCode is Nikita Shevchenko, a graduate of the 500 Startups & Sberbank accelerator.
History
2023: Toptal bought WeLoveNoCode
On October 13, 2023, the platform for developing sites and applications without writing WeLoveNoCode, created by Russian Nikita Shevchenko, announced its sale. The buyer was the American exchange for freelance programmers Toptal, which provides the opportunity to get a job.
Shevchenko himself announced the conclusion of the agreement. According to him, some employees of WeLoveNoCode will join the team of the new owner, while the rest will leave the company and take up other projects. The terms of the deal and its amount were not disclosed, but it is reported that all customers will "smoothly move" to the Toptal platform.
WeLoveNoCode, founded in 2020, raised more than $4 million for development. In September 2023, the service changed its name to WLNC. It was said that the company intends to bring development tools without writing code to virtual (VR) and augmented (AR) reality, which will help accelerate the development of the relevant market segments.
 | In 5-10 years, we will see a world in which most people will work with VR/AR accessories and where the bulk of our activities will be transferred to virtual space. Websites, shops, entertainment... Everything will move to the metaverse to make the user experience more efficient and exciting - so why not speed it up?, WeLoveNoCode states. |  |
As part of the agreement, Shevchenko will help Toptal integrate WeLoveNoCode. Whether he will remain in the company is not known as of October 16, 2023. Market participants say WeLoveNoCode has had financial difficulties due to the payment of expensive specialists and high marketing costs. In addition, the current geopolitical situation had a negative impact on the startup's business. Therefore, it was decided to transfer the company to the hands of the new owner.[1]
2022: Raising $3 million in investments
On April 7, 2022, WeLoveNoCode announced it was raising $3 million in investments. The funding round was led by Mantis Venture Capital with input from K5 Global, Liquid2, CapitalX, Gaingels and Abe Burns. The startup plans to direct the funds received to strengthen its position in the market.
WeLoveNoCode, led by Sakhalin Nikita Shevchenko, is developing an automated platform designed to quickly test and develop applications, helping startups, agencies, SMB and other enterprises address all their product needs with no-code. On the company's platform, users can submit any task related to the development of landing pages, mobile applications, web applications, process automation, design, and more. The customer will be automatically assigned a no-code developer to perform these tasks, thereby providing enterprises with unlimited, high-quality application development services at a nominal price. The company uses a subscription-based monetization model and has two offices in the US and UK.
The company provides a reliable selection process and a fixed monthly fee for the development of no-code products from $2.5 thousand. To develop applications, the client just needs to tell what they want to create and use a 7-day trial at a price of $9. The platform selects suitable no-code developers for them and agrees on a preliminary schedule and roadmap for a fixed monthly fee. Customers can track their daily progress and stay in touch with the no-code team through the WeLoveNoCode platform.
By April 2022, the platform unites about 5 thousand companies and 36 thousand no-code developers. The company estimates to earn $24 million in recurring revenue (ARR) during the year 2022. Shevchenko, talking about the prospects for no-code development, said:
| | In the near future, more than 11 million software developers could either lose their jobs or be forced to retrain as nuleviks or lowcoders. I firmly believe that the tech giants will eventually cease to dominate the product field - any company in the world will be able to create comparable products with no-code'moats that run much cheaper and faster. | |
The global low code development platform market size is projected to reach nearly $400 billion by 2027, 30.9% CAGR during 2021-2027. By 2024, 65% of all applications in Western countries will be created no-coders, more than half of IT services will be provided using alternative programming platforms.[2]
2021
Raising $1 million in investments
At the end of October 2021 startup , WeLoveNoCode raised $1 million in investments from venture capital investors Nikolay and Marina Davydov, the Liberman brothers, as well as CapitalX general partner Cindy B and the venture capital investors club. Angelsdeck
The lead investor and syndicator of the round was an Angelsdeck club member Tigran Nazaretyan, who is also an advisor - an expert who helps a startup solve strategic problems from the area in which the team lacks project competencies.
Its founder Nikita Shevchenko spoke about investments in the platform to Forbes magazine. According to him, the funds received will be spent on expanding the project team, hiring eight employees, including the head of product, recruiters, marketers and other goals.
By the end of October 2021, the WeLoveNoCode platform, which selects performers for small businesses through a monthly subscription, is used by more than 3.8 thousand developers. In total, they completed more than 1.3 thousand projects for customers. Among the projects implemented are mobile applications, web pages, marketplaces, e-commerce applications, CRM systems, business automation, video applications, VR applications, etc. Among the clients are inDriver, Invoice Hero, Yandex, Forbes reports.
Monthly revenue is about $125 thousand, Shevchenko said. In a year, he said, he plans to increase it to $1 million.
Tigran Nazaretyan believes that no-code "eats" the market from ordinary programmers. This means that no-code platforms will be more and more perfect, and more and more tasks that were previously solved only using regular programming will be solved using no-code tools - faster and cheaper.
| | Now you can even build an application like Uber on a no-code platform. At the same time, the no-code market is essentially still in its infancy and promises to grow 10 times by 2027, he added.[3] | |
Attracting investments from Russian business angels
In May 2021, it became known that business angels Nikolai Davydov and brothers Daniil and David Lieberman invested in the seed round in the startup WeLoveNoCode. The founder of the project, Nikita Shevchenko, spoke about this on his Facebook page.
According to Nikolai Davydov, he invested in the project because he "believes that the Nocode market will grow very quickly."
| | WeLoveNoCode is perfectly positioned to be its leader. The project has a cool team, strong editors and revenue growth, this is perfectly confirmed, - the investor believes. | |
The funds raised are planned to be used to strengthen the sales department, create a marketing department and recruit. How much money investors have invested in WeLoveNoCode has not been disclosed.
According to Nikita Shevchenko, the agreement with investors was concluded in the format of SAFE (Simple Agreement for Future Equity, allows you to quickly attract financing without piling up corporate procedures). The startup's estimate in this format is $5 million.
Since the launch of WeLoveNoCode, more than 200 foreign companies, including Y Combinator alumni, have used the service services by May 2021. The amount of monthly client subscriptions exceeds $67 thousand.[4]
Notes
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