Replit CEO Amjad Masad said the company grew from $2.8 million in revenue in all of 2024 to tracking toward a $1 billion annual run rate, as he discussed the reported talk that rival Cursor could be acquired by SpaceX for $60 billion. [1]
Masad said Replit’s net revenue retention is reaching as high as 300%, a sign that existing customers are spending far more over time. He also said Cursor’s gross margins were negative 23% in remarks that framed the pressures on AI software companies that rely on foundation models. [1]
Speaking at a sold-out StrictlyVC event in San Francisco on Thursday night, Masad said Replit has economics that could make remaining independent viable, though he did not completely rule out a sale. He said, “It’s kind of hard being an independent, smaller AI company that’s building on foundation models, especially if you’re burning a ton of cash.” [1]
Masad also said he would be willing to take Apple to court over what he called “outright lies” in the App Store fight between Apple and Replit. He said the dispute reflects a broader clash over platform rules and the terms on which AI app makers can reach customers. [1]
TechCrunch published the interview on 2026-05-01, after the San Francisco event. [1]