OpenAI is on a buying spree. Just days after acquiring Rockset, a database technology company, OpenAI has bought Multi, a startup focused on video-based remote collaboration for businesses.
Multi, which was previously known as Remotion, developed a platform that helped remote teams work together through video chats.
It allowed up to ten people to share their screens simultaneously, had customizable shortcuts, and provided automatic links to code, designs, and documents.
However, Multi will be shutting down after July 24. “We’re beyond excited to share that Multi is joining OpenAI,” said Alexander Embiricos, Multi’s CEO and co-founder, in a blog post.
“Thank you to everybody who used Multi. It was a privilege building with you, and we learned a ton from you.”
The deal is essentially an acqui-hire, meaning OpenAI is more interested in Multi’s team than its product. Most of Multi’s small team, about five people, will join OpenAI.
Multi had previously raised $13 million from investors, including Greylock and First Round Capital.
This acquisition fits into OpenAI’s broader strategy to invest heavily in enterprise solutions.
The company recently reported that nearly 600,000 users, including 93% of Fortune 500 companies, are using the corporate tier of its AI-powered chatbot, ChatGPT.
Additionally, OpenAI signed a deal with PwC to resell its tools and launched a custom AI model tuning and consulting program for businesses.
These efforts are paying off, with OpenAI’s revenue expected to exceed $3.4 billion this year, according to The Information.
The purchase of Multi hints at the possibility that OpenAI could integrate video conferencing and remote collaboration features into ChatGPT in the future.
OpenAI’s rapid expansion into the business sector shows its commitment to becoming a major player in AI-powered solutions for companies.
With each acquisition, OpenAI is bolstering its capabilities and market presence, setting the stage for continued growth and innovation.
