Confessions of a CEO: Roy Lee’s Admission of Falsifying Revenue Numbers

The Truth Behind Cluely’s $7 Million Annual Recurring Revenue Claim

Cluely co-founder and CEO Roy Lee recently made a shocking confession, revealing that the $7 million in annual recurring revenue he shared with TechCrunch was actually a lie. In a candid statement on X, Lee admitted, “This is the only blatantly dishonest thing I’ve said publicly online, so this is my formal retraction.”

However, the backstory of how this misinformation came to light is quite intriguing. Lee claimed that he received a random cold call from a woman asking about numbers and ended up fabricating information that he did not expect to be published as an article.

Contrary to Lee’s version of events, it was actually Cluely’s public relations representative who reached out to TechCrunch, offering to arrange an interview with Lee. On June 27, 2025, at 8:38 a.m., an email was sent to TechCrunch reporter Marina Temkin, expressing interest in featuring Cluely and its vision.

TechCrunch’s curiosity about Cluely stemmed from its status as the “cheat-on-everything” phenomenon in the summer of 2025. This viral startup allowed users to discreetly seek answers during video calls without detection, a concept that garnered significant attention.

Following a controversial incident involving Lee’s suspension from Columbia University for developing a tool to cheat on job interviews, Cluely secured $5.3 million in seed funding from Abstract Ventures and Susa Ventures. The company aimed to commercialize the tool for online interviewees seeking to access answers covertly.

In a strategic move, Cluely rebranded itself as an AI-powered meeting note-taker after raising a $15 million Series A from Andreessen Horowitz in June. The company’s knack for generating viral content through provocative stunts had solidified its reputation in the industry.

During TechCrunch’s 2025 Disrupt event, Lee emphasized the importance of not disclosing revenue numbers prematurely, citing the need for a solid product foundation before focusing on marketing tactics. Despite this advice, Lee’s admission of the revenue fabrication indicates a lapse in judgment.

Cluely’s evolution into an AI-driven note-taking solution demonstrates the company’s adaptability, but Lee’s recent revelation serves as a cautionary tale against misleading disclosures in the tech industry.