The Prompt: The Latest AI Startup To Face Reality [Forbes]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Forbes
AI startup laid off in an effort to restructure and focus on the money-making part of its business: enterprise customers who use its AI tools to auto-generate presentations in minutes. The once-buzzy generative AI startup, last valued at $300 million , now plans to pitch its product to salespeople who make up a sliver of its customer base of 20 million people. The shift reflects an industry trend as more AI startups turn towards enterprise clients to bolster revenue. I spoke to CEO Keith Peiris on what prompted the crucial pivot. “It's actually way more straightforward to build a business this way,” Tome CEO Keith Peiris told me. “I think it becomes really hard trying to build a consumer product for millions of people and sorting out your own costs when most of them don't pay.” Tome has been used to create everything from pitch decks to post-surgery instructions for patients to students' class projects. “For those folks I would say that they are less likely to pay and they use To
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News
- Democratic officials criticize Meta ad policy, saying it amplifies lies about 2020 election [FOX News]FOX News
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- Here's Why These Tech ETFs Are Worth Buying Now [Yahoo! Finance]Yahoo! Finance
- Tech platforms make pitch for ad deals as TikTok is roiled by politics [Yahoo! Finance Canada]Yahoo! Finance Canada
- Tech platforms make pitch for ad deals as TikTok is roiled by politics [Yahoo! Finance]Yahoo! Finance
META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 5/3/24 - Form 144
- 5/2/24 - Form 4
- 5/2/24 - Form PX14A6G
- META's page on the SEC website