- OpenAI continues aggressive M&A strategy, acquiring video-first collaboration platform Multi.
- Multi, formerly Remotion, specialized in Zoom-based remote team collaboration.
- Acquisition termed an acqui-hire; most of Multi’s team to join OpenAI.
- Multi’s CEO cites privilege in joining OpenAI, announces shutdown post-acquisition.
- Features included simultaneous screen sharing, customizable shortcuts, and automated deep links.
- Multi raised $13M from VCs like Greylock and First Round Capital prior to acquisition.
- OpenAI emphasizes enterprise solutions; ChatGPT’s corporate tier boasts 600,000 users.
- Partnership with PwC and launch of custom AI model tuning highlight enterprise focus.
- OpenAI’s projected revenue to surpass $3.4B this year, fueled by strategic acquisitions.
- Speculation arises about potential integration of videoconferencing into future ChatGPT iterations.
Main AI News:
OpenAI continues its aggressive M&A strategy, hot on the heels of acquiring database technology firm Rockset. The latest addition to their portfolio is Multi (formerly Remotion), a startup specializing in a video-first collaboration platform tailored for enterprise use. Described as an acqui-hire, the deal will see most of Multi’s small team, approximately five members, joining OpenAI post-acquisition.
Alexander Embiricos, CEO of Multi and co-founder, announced the news in a blog post, revealing that Multi will cease operations by July 24. He expressed enthusiasm about joining OpenAI, thanking users for their support and emphasizing the learning gained from building Multi.
Founded by Embiricos, a former Dropbox product manager, and Charley Ho, previously a Google software engineer, Multi aimed to enhance remote team collaboration through Zoom-based video chats. Key features included simultaneous screen sharing for up to 10 participants, customizable shortcuts, and automated deep links for seamless integration of code, designs, and documents.
According to Crunchbase, Multi had raised $13 million from prominent venture capital firms like Greylock and First Round Capital before its acquisition.
OpenAI’s acquisition strategy aligns with its recent focus on expanding into enterprise solutions. The company disclosed that its AI-powered chatbot platform, ChatGPT, has attracted nearly 600,000 users in the corporate sector, including a significant portion of the Fortune 500. Partnering with PwC and launching tailored AI model tuning and consulting services further underscores OpenAI’s commitment to enterprise markets.
These strategic moves are proving lucrative, with OpenAI’s projected revenue for the year expected to exceed $3.4 billion, according to The Information. Looking ahead, could we see future iterations of ChatGPT integrating videoconferencing and enhanced collaboration features? The prospect seems plausible, given OpenAI’s track record of innovation and market adaptation.
Conclusion:
OpenAI’s acquisition of Multi underscores its aggressive expansion into enterprise-focused technologies. By integrating Multi’s advanced collaboration features, OpenAI aims to enhance its offerings for corporate clients, leveraging its growing user base and strategic partnerships. This move not only strengthens OpenAI’s market position but also signals its intent to innovate and diversify in response to increasing demand for advanced AI-driven solutions in business environments.
