AI search engine startup Perplexity eyes a $3B valuation

Tuesday, April 23, 2024 Posted by bloggerdaddy

Tuesday, April 23, 2024

Welcome back to TechCrunch PM. Today we have big funding news for Perplexity's AI search engine, the latest cuts at Fisker, and Apple's upcoming iPad event. Also check out a new social network that aims to connect people working through grief and loss.

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Image Credits: Apple

Perplexity is raising a lot more money: The AI search engine startup is currently raising at least $250 million more at a valuation of between $2.5 billion and $3 billion, TechCrunch has exclusively learned. It follows two other big fundraises that have seen the company's valuation leapfrog in recent months. Read More

More cuts at Fisker: As the embattled EV startup scrambles to raise cash, Fisker is planning more layoffs less than two months after cutting 15% of its workforce. The company expects to seek bankruptcy protection within the next 30 days if it can't come up with enough money to stay alive. Read More

Apple's next iPad event: Apple has set a virtual "Let Loose" event for May 7, which is expected to focus on the iPad and Apple Pencil. Other rumored upgrades include an updated version of the Pro's Magic Keyboard case. Read More

Deep dive into the U.S./TSMC deal: The U.S. Department of Commerce proposed investing as much as $6.6 billion to fund a third Taiwan Semiconductor Manufacturing Company Limited (TSMC) fab in Arizona. Now learn how China tensions come into play. Read More

Uber Eats gets into video: Uber Eats is working on a TikTok-like short-form video feed to boost discovery and help restaurants showcase their dishes. It's being tested in New York, San Francisco and Toronto and will launch worldwide soon. Read More

Afternoon must-reads

Image Credits: SOPA Images / Getty Images

AWS wants to host your AI models: Amazon's cloud computing business announced Custom Model Import, which lets organizations import and access their in-house generative AI models as fully managed APIs. Read More

The next Bitmoji?: Two former Snap employees are working on Easel, an app that leverages AI to let users create Bitmoji-style stickers of themselves directly from iMessage conversations. Read More

A new app for dealing with grief: DayNew is a new grief support platform, educational hub, and task manager app. Founded by two widows, the app aims to be a safe space for users to connect with others and receive support. Read More

TV on X: The social network is launching a dedicated TV app "soon." X CEO Linda Yaccarino announced that the new app will bring "real-time, engaging content to your smart TVs" and will support cross-device viewing. Read More

Fundid shuts down: The fintech startup wound down operations because of rising interest rates and a strained cap table. But its founder Stefanie Sample is already back with a better idea. Read More

Tesla tries to rev up demand: The company revealed a new Performance variant of the recently refreshed Model 3 sedan. The new version, which starts at $52,990, has 296 miles of battery range and can travel from 0 to 60 miles per hour in 2.9 seconds. Read More

Tesla earnings day: Speaking of Tesla, the company is gearing up for what will likely be unimpressive financial results at its earnings call today at 5:30 p.m. ET. Read More

"Calgon, take me away!": Therapeutic headbands and eye mask-like medical devices have long had benefits on a number of chronic issues. Now meet Neurovalens, a Belfast-based startup that for over a decade has been developing technology to deliver noninvasive electrical stimulation of the brain and nervous system. The good news is its second head-mounted treatment device was cleared by the FDA. Read more

Another breach: We learned that in March, India's largest audio and wearables brand boAt had a data breach that compromised the data of more than 7.5 million customers. The company is investigating amid a sample of the data being uploaded on a known cybercrime forum. Read more

Become a Startup Battlefield 200 company: Apply today to join peers at October's TechCrunch Disrupt event in San Francisco. Read more

Money, money, money

Y Combinator alum Matterport is being acquired by CoStar in a cash-and-stock deal of $5.50 per share at a valuation of about $1.6 billion. Read More

Campus, a virtual community college startup, has received a $23 million Series A extension led by Founders Fund with 8VC participating. Read More

Around the web

Google users have long added "Reddit" to the end of their search queries to get information from a real person. Now 404 Media reports that a new service called ReplyGuy is using AI to promote products "naturally" on Reddit and game Google search results.

The rate of injury at SpaceX facilities was higher than the industry average in 2023, according to a review of safety data by Reuters. The 2023 numbers show that injury rates at certain SpaceX facilities were also higher than what the company reported the prior year.

Grindr is facing a lawsuit in London, Bloomberg reports. The company behind the LGBTQ+ app is being accused of sharing sensitive information about its users, including their HIV status, with advertising firms without their consent.

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