New Delhi, Jan 10, 2024 –
Parag Agrawal, the former CEO of Twitter, has embarked on a new journey into the world of artificial intelligence, aiming to take on established AI tools like ChatGPT and Bard. Agrawal’s startup has secured a substantial $30 million in funding from early investors associated with OpenAI, including leading contributions from Khosla Ventures, Index Ventures, and First Round Capital.
After leaving Twitter in a surprise move following Elon Musk’s takeover, Agrawal has been quietly working on his AI startup, focusing on the development of specialized software for Large Language Model (LLM) creators. The funding injection reflects strong confidence from investors in Agrawal’s vision for advancing AI innovation.
The departure from Twitter came amid a complex set of circumstances, with Musk pushing for a radical transformation of the platform, emphasizing free speech, subscription-based monetization, and aggressive measures against bots. Agrawal, however, leaned towards incremental improvements, content moderation, and user growth, leading to a misalignment of visions.
Musk reportedly sought a more assertive leader, describing the need for a “fire-breathing dragon” as CEO. Tensions within Twitter’s leadership over moderation policies and Musk’s vision added to the challenges, ultimately resulting in Agrawal’s removal.
With the new funding secured, Agrawal’s startup is now set to compete in the AI landscape, targeting a niche market for LLM creators. The funding, led by prominent venture capital firms, signifies a promising start for Agrawal’s venture in the rapidly evolving field of artificial intelligence.
