"OpenAI has agreed to buy product testing startup Statsig for $1.1 billion in an all-stock deal, the company said, marking one of the largest acquisitions in the ChatGPT maker's history. Statsig, founded in 2021, builds tools to help software developers test and flag potential new features. Its services have been used by employees at OpenAI, Eventbrite Inc., SoundCloud Ltd. and other tech firms, according to Statsig's website."
"As part of the acquisition, Statsig's founder and Chief Executive Officer Vijaye Raji will join OpenAI as chief technology officer of applications, the company said in a blog post Tuesday. He'll report to Fidji Simo, the former Instacart head who recently took over as CEO of that division. In a statement, Simo said Raji would help companies and developers use OpenAI's technology to build safe applications that empower people."
"OpenAI has been more aggressive this year in pursuing big-ticket acquisitions, fueled in part by its soaring valuation. In March, OpenAI said it had finalized a deal to raise $40 billion in funding at a $300 billion valuation, including the money raised. Now, the company is in talks to let current and former employees sell shares at a $500 billion valuation, Bloomberg News has reported."
OpenAI agreed to buy product-testing startup Statsig for $1.1 billion in an all-stock deal. Statsig, founded in 2021, provides tools for software developers to test and flag potential new features and has been used by employees at OpenAI, Eventbrite, and SoundCloud. Statsig raised $100 million earlier this year at a $1.1 billion valuation. As part of the deal, founder Vijaye Raji will join OpenAI as chief technology officer of applications and will report to Fidji Simo. The acquisition is pending regulatory review. OpenAI also announced leadership changes including Kevin Weil and Srinivas Narayanan.
Read at www.mercurynews.com
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