New information has emerged that Jeff Bezos has backed a $520 million startup that is working to challenge Google’s web search dominance. artificial intelligence (AI) to change path people Look for information Online.
The company’s nickname is Perplexity, where its prized product is a platform to “ask anything,” which its team of fewer than 40 people based in San Francisco, United States, calls an “answer engine,” according to The Wall Street Journal.
As mentioned by international media, Perplexity works as a chatbot-style search engine that answers questions using OpenAI’s GPT technology. The app uses information from online sources to generate direct text responses to questions, rather than links to websites, which include the answers to them.
Users can access a more powerful version of the Perplexity search engine that uses GPT-4, OpenAI’s most advanced technology, for $20 per month.
Given that, the concept caught the attention of Bezos as well as other technology executives and venture capitalists, who invested $73.6 million in Perplexity’s latest Series B funding round, the startup said in a blog post Wednesday.
It was not immediately clear how much of the nearly $74 million investment Bezos provided. As the largest amount raised by an Internet search startup in recent years, The Journal reported, “ongoing support from our seed and Series A investors… as well as new investors NVIDIA and Jeff Bezos (via the Bezos Expedition Fund) ). ),” among others.
Amazon, Bezos’ brainchild, has recently been known to commit billions of dollars to AI initiatives, including its $4 billion commitment to generative AI startup Anthropic, the startup behind a cloud chatbot that promises to rival ChatGPT.
To date, Perplexity has raised $100 million, the Post said, valuing the startup at $520 million in investment, according to The Journal.
Srinivas worked as a research intern at Google before landing a job as a research scientist at OpenAI, a role he held for just over a year before co-founding Perplexity in August 2022, according to his LinkedIn page.
Perplexity’s website and mobile app have grown in usage by 10 million people monthly, and received 53 million visits in November alone, up from 2.2 million when the service first became available in December 2022. , the journal reported, citing data from SimilarWeb.
The founder told The Journal that the startup has spent almost nothing on traditional marketing to attract new users, relying on word of mouth and rumors about X.
And despite publicly sharing its goal of increasing Google’s roughly 90 percent market share in online search, Google executives (including former YouTube chief Susan Wojcicki and Jeff Dean, a senior vice president focused on AI research) have made personal investments in Perplexity. Company
Experts detail that the company still has a long way to go if it wants to overtake Google, whose parent company, Alphabet, has a market capitalization of $1.74 trillion, the fourth largest in the world.
Google, which has a global workforce of about 140,000 people, has also invested heavily in answering the widest possible range of questions in more than 133 languages. Scaling this way is a daunting task for a startup whose team has yet to surpass 50, The Journal reported.
Meanwhile, Perplexity is not yet listed on the stock exchange and it was not immediately clear if the startup is planning an IPO in the near future.
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