AI Startup Totals Clipdrop Acquisition Of AI Stability

Clipdorp. AI image creation app. (photo: x @clipdropapp)

JAKARTA - United States writing assistant startup totaling Clipdrop, an artificial intelligence-supported photo app from AI Stability. This was done, astensively expanding its offerings beyond editing the text to photos.

The deal, which was not disclosed in detail, marks a strategy reversal for AI Stability, a London-based startup known for its image-generation artificial intelligence model, which acquired the Clipdrop less than a year ago.

In an emailed statement, Emad Mostaque, CEO at AI Stability, said the deal would allow the company to continue to focus on developing "the latest open model".

Founded in July 2020, Paris-based Clipdrop used an open source artificial intelligence model to allow users to generate and edit photos. The company had obtained an initial investment from Air Street Capital before it was sold to AI Stabilities in March 2023 for an undisclosed amount. At the time, Clipdrop said it had more than 15 million users.

"This is a great way for us not only to expand our product capabilities, expand our talents of artificial intelligence, but also expand our footprint to Europe," said Timothy Young, CEO ofturbation.

ERADICATION and AI Stability are among users and investors in generative artificial intelligence, an area filled by OpenAI's ChatGPT.

The two companies have raised more than $100 million from venture investors with billions of dollars in valuation, and are now trying to prove that they can maintain growth in a fast race with other startups and big tech companies.

His AI-based writing tool has seen the CEO's termination of employment and changes while trying to focus on serving the company, not consumers, in the past year. The company plans to offer Clipdrop through its platform, while remaining available as a standalone product.