According to reports, Perplexity wants to raise $8 billion.
According to reports, Perplexity wants to raise $8 billion.
The Wall Street Journal reports that Perplexity, an AI search engine, is in financing negotiations and is looking to raise about $500 million at a $8 billion value.
If a purchase is reached with those conditions, Perplexity’s valuation—which was $3 billion when it raised money from SoftBank over the summer—will more than double. According to the WSJ, the company currently generates around $50 million in annually revenue and receives over 15 million queries per day.
Perplexity is an AI-powered chatbot that assists users with web searches. The New York Times even sent Perplexity a cease-and-desist letter after certain news publishers accused the company of plagiarism and illegal web scraping. However, CEO Aravind Srinivas stated that he wants to collaborate with publications and has “no interest in being anyone’s antagonist here.”
These fundraising discussions follow OpenAI’s announcement that it has raised $6.6 billion at a valuation of $157 billion. Although OpenAI’s ChatGPT and other products have made it harder to distinguish between chatbots and search engines, the company is taking a more direct approach with SearchGPT.
A representative for Perplexity chose not to respond to the WSJ article.
Perplexity is apparently looking to fundraise at a $8 billion valuation.
Perplexity, an AI search engine, is in funding talks and expects to raise $500 million at a $8 billion value, according to The Wall Street Journal.If the purchase goes through on those conditions, Perplexity’s worth will more than double from the $3 billion it raised from SoftBank during the summer. According to the Wall Street Journal, the company currently receives about 15 million queries each day and generates approximately $50 million in annual income.
Perplexity employs artificial intelligence to assist users in doing web searches using a chatbot-style interface. Some news publishers have accused Perplexity of improper web scraping and plagiarism, and The New York Times has even issued a cease-and-desist letter, but CEO Aravind Srinivas has stated that he wishes to collaborate with publishers and has “no interest in being anyone’s antagonist here.”
These fundraising talks come after OpenAI disclosed a $6.6 billion round with a $157 billion value. While OpenAI’s ChatGPT has blurred the boundaries between chatbot and search engine, SearchGPT marks the company’s entry into the search space.
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