AI Search Startup Perplexity Seeks New Funding at $8 Billion Valuation
Perplexity is in talks to raise $500 million at an $8 billion valuation, more than doubling its worth since the summer. The AI search engine currently processes 15 million daily queries and generates $50 million in annualized revenue.
Perplexity is in talks to raise approximately $500 million at an $8 billion valuation, according to The Wall Street Journal. This massive figure more than doubles the AI search engine's $3 billion valuation from a funding round led by SoftBank just a few months ago. A Perplexity spokesperson declines to comment on the ongoing fundraising reports.
The startup currently processes about 15 million queries per day and brings in roughly $50 million in annualized revenue. Perplexity offers a chatbot-style interface that uses artificial intelligence to help users search the web. While some news publishers accuse the company of unauthorized web scraping and plagiarism, CEO Aravind Srinivas insists he wants to collaborate with publishers rather than act as an antagonist.
These fundraising efforts arrive shortly after OpenAI secures a $6.6 billion round at a staggering $157 billion valuation. As OpenAI blurs the lines between chatbots and search engines with its upcoming SearchGPT product, Perplexity is racing to secure the capital it needs to compete in the rapidly evolving AI search market.