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☆ AI startup Perplexity is in talks to raise more money at a significantly higher valuation just months after its last round
  + stars: | 2024-02-29 | by ( Rebecca Torrence | Melia Russell | ) www.businessinsider.com   time to read: +4 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewOnly months after buzzy AI search-engine startup Perplexity AI raised its last round of funding, the company is yet again raising additional funds, as investors clamor to back tech's next big generative AI startup. This story is available exclusively to Business Insider subscribers. Perplexity is raising this additional money at a significantly higher valuation cap than its previous pricing of $520 million, according to two people with direct knowledge. A spokesperson told Business Insider that the details of the deal were incorrect but did not clarify when asked for further information.
Persons: —, clamor, Jeff Bezos, Perplexity, OpenAI's ChatGPT, Google's Bard, Aravind Srinivas, It's, Elad Gil, Nat Friedman, Fred Wilson, aren't Organizations: Service, Google, Business, Institutional Venture Partners, New Enterprise Associates, Bessemer Venture Partners, Nvidia Locations: OpenAI
☆ SVB collapse is double-whammy for tech startups already navigating brutal market
  + stars: | 2023-03-19 | by ( Ashley Capoot | ) www.cnbc.com   time to read: +11 min
He'd started the process six months earlier during a brutal period for tech stocks and a plunge in venture funding. Investors were just pulling in their horns, the SPAC market had fallen apart, valuations for tech companies were collapsing." In the absence of venture funding, money-losing startups have had to cut their burn rates in order to extend their cash runway. Since the beginning of 2022, roughly 1,500 tech companies have laid off a total of close to 300,000 people, according to the website Layoffs.fyi. Kruze Consulting provides accounting and other back-end services to hundreds of tech startups.
☆ After leading $20 billion Figma deal, Adobe's David Wadhwani is in prime spot to be next CEO
  + stars: | 2022-10-31 | by ( Jordan Novet | ) www.cnbc.com   time to read: +15 min
The business Wadhwani oversees is roughly three times the size as Chakravarthy's in terms of revenue. For Wadhwani, Figma represents a risky bet on growth at a time when Wall Street is telling tech companies to tighten their belts and preserve cash. The make-or-break betIn his 15-year tenure as CEO, Narayen hasn't been shy about dealmaking, just at a smaller size. And it might be Wadhwani's make-or-break opportunity to prove he should be CEO of the fourth-biggest U.S. business software company by market cap. Shantanu Narayen, CEO, Adobe Mark Neuling | CNBCThe revenue became more predictable and less closely associated with product releases.
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