OpenAI on an Acquisition Streak
In recent times, OpenAI has been making significant acquisitions to bolster its enterprise solutions. Just days after purchasing database technology firm Rockset, OpenAI has acquired Multi, a startup focused on video-first collaboration for enterprises.
Acquiring Multi: The Details
Multi, previously known as Remotion, developed a collaboration platform aimed at enhancing team communication through video calls. The acquisition is essentially an acqui-hire, meaning OpenAI is primarily interested in Multi's team, consisting of about five people, who will join OpenAI after the deal's closure.
CEO's Announcement
Alexander Embiricos, CEO of Multi, announced that Multi will shut down after July 24.
In a blog post, he shared his excitement about joining OpenAI:
“We’re beyond excited to share that Multi is joining OpenAI. Thank you to everybody who used Multi. It was a privilege building with you, and we learned a ton from you.”
Features and Innovations of Multi
Embirkos, along with Charley Ho, the second co-founder and a former Google software engineer, designed Multi to improve how remote teams work together. Below are some of the platform's notable features:
- Collaboration Across Screen Shares: Up to 10 people can share their screens simultaneously.
- Customizable Shortcuts: Users can set shortcuts tailored to their workflow.
- Automatic Deep Links: Direct links to code, designs, and documents made collaboration more seamless.
Financial Backing
According to Crunchbase, Multi raised $13 million from venture capitalists like Greylock and First Round Capital before its acquisition by OpenAI.
OpenAI's Enterprise Strategy
The acquisition of Multi aligns with OpenAI's broader strategy to invest heavily in enterprise solutions. Here are some recent moves that highlight this strategy:
- ChatGPT Corporate Tier: OpenAI revealed the corporate version of ChatGPT has close to 600,000 users, including 93% of Fortune 500 companies.
- Partnership with PwC: OpenAI signed an agreement with PwC to resell OpenAI’s tools to other businesses.
- Custom AI Model Training: The company launched a program for business-oriented custom AI model tuning and consulting.
Significant Revenue Growth
OpenAI's focus on enterprise solutions appears to be yielding substantial financial returns. The company's revenue is expected to exceed $3.4 billion this year, more than double the revenue from late 2023.
Future Prospects
Given OpenAI’s recent acquisitions and strategic direction, it’s feasible that we could see an enhanced version of ChatGPT equipped with video conferencing and remote collaboration capabilities. As OpenAI's timeline for releasing new models lengthens, integrating such features could add significant value to their enterprise offerings.
OpenAI's recent activities highlight its commitment to expanding its footprint in the enterprise market. By acquiring companies like Multi and Rockset, OpenAI is well-positioned to offer more comprehensive solutions to its business clients, potentially integrating advanced features like video conferencing into its flagship products.
