OpenAI acquires Rockset, Amex taps-to-pay $400M for Tock, and A* raises $315M for second fund
AI is complex and OpenAI is aiming to make it less so for customers, Amex wants to make your dream dinner reservation possible, and Eventbrite founder Kevin Hartz's second fund nets $315M
From where I’m sitting, it was only a matter of time until OpenAI, Anthropic, Google, you name it, admit that getting the most of what they have on offer takes a bit of help.
First mover - OpenAI in acquiring Rockset, a startup founded in 2016 by ex-Facebook employees and raised $105M from the likes of Sequoia and Greylock Partners. As of August 2023 the company had a valuation of $200M.
Ultimately, Rockset offers technology to retrieve, index, and make data searchable for business customers.
Read: customers and developers can make better use of their data on OpenAI’s platform.
The terms of the deal were not disclosed, however, in a blog post OpenAI noted:
“We will integrate Rockset’s technology to power our retrieval infrastructure across products, and members of Rockset’s world-class team will join OpenAI.”
That and all the other not news I didn’t find of interest or valuable for the 22nd of June 2024.
Top Headlines
OpenAI buys enterprise startup that raised $105M, Rockset, to help customers sift through data
Amex buys Tock to help with hard-to-get dinner reservations from Squarespace in $400M deal
The Financials
E-fuels startup Aether Fuels is raising $34.3 million, per filing
Language learning app Speak nets $20M, doubles valuation
Fintech firm Pine Labs weighs $1B IPO in India
Trump's "Truth Social" stock is officially in free fall
Mergers & Acquisitions
Amex buys Tock to help with hard-to-get dinner reservations from Squarespace in $400M deal
OpenAI buys enterprise startup that raised $105M, Rockset, to help customers sift through data
Airbus and Boeing near deal to carve up Spirit AeroSystems
Orange said to mull 40 percent stake sale in carrier, exiting Mauritius
The Funds
Kevin Hartz’s A* raises its second oversubscribed fund in three years at $315M
How a Saudi pullback from a landmark US deal would be bad news for dollar dominance
Private equity roll-ups bet energy transition will go slow
Investors wary on Mexico following peso rout
The UK
UK economy has slowest private sector growth since November as manufacturing at 26-month high
Wealthy foreigners step up plans to leave UK as taxes increase
Of Note
Apple won’t roll out AI tech in EU market over regulatory concerns
Stability AI appoints new CEO
The number of freelance jobs on platforms like Upwork, in areas where generative AI excels, have dropped by as much as 21 percent since ChatGPT's debut
Multiple AI companies bypassing web standard to scrape publisher sites, licensing firm says
AI and robotics are the keys that will drive Tesla to a $1T valuation, Wedbush says
Monaco could be next on the financial crimes 'gray list'
Electrifly starts electric flights between Maastricht, Aachen, and Liège this summer
CarbonCapture Inc. reveals new modular direct air capture design
AI is already wreaking havoc on global power systems
Interesting Reads
How Chinese EV makers are slowly taking over the world
Why corporate bonds are so hot right now
Why the Great Wealth Transfer isn't all that great
How a $17 billion Samsung chip factory is poised to remake a Texas town
Well, that’s not the news, as I didn’t see it today, folks. Now go get that weekend!
