OpenAI is accelerating its merger and acquisition activity by acquiring Multi (formerly known as Remotion), a startup company developing a video-focused collaboration platform tailored to enterprises.
Following its recent acquisition of Rockset, a company operating in the database technology field, the company came to announce its new acquisition.
From a technical perspective, the deal can be considered akin to a merger, as most of Multi’s team members are joining the emerging artificial intelligence company after the deal is finalized.
Alexander Empirikos, CEO and founder of Multi, announced the company’s closure on July 24, 2024.
In a tweet, Empirikos expressed his excitement for Multi joining OpenAI and thanked everyone who contributed to Multi’s success.
Empirikos, who was a production manager at Dropbox and the co-founder of Multi, collaborated with Charlie Ho, a former software engineer at Google, in developing a Zoom-based platform aimed at enabling remote teams to collaborate through video sessions.
The Multi app offers many features, such as the ability to collaborate with a group of up to 10 people simultaneously, customizable shortcuts, and automatic links to code, designs, and documents.
According to information available on Crunchbase, Multi managed to raise $13 million from investment firms such as Greylock and First Round Capital.
Like the acquisition of Rockset, the Multi deal seems to align with OpenAI’s comprehensive strategy to enhance corporate solutions.
Previously, OpenAI revealed that corporate subscriptions to ChatGPT Enterprise encompass around 600,000 users.
In May, OpenAI entered into an agreement with PwC to resell its tools to other companies.
Last month, the emerging artificial intelligence company launched a new program dedicated to improving AI models and providing business-oriented consultations.
Current efforts seem to be yielding results, with OpenAI expected to exceed $3.4 billion in revenue this year.
