Latest news with #HasanSukkar
TechCrunch
10-05-2025
- Business
- TechCrunch
Week in Review: Instacart CEO heads to OpenAI
Welcome back to Week in Review! We've got lots of news for you this week: There were CEO shake-ups at Instacart and 11x; the web series is back — kind of; Threads is getting video ads; and much more. Let's get to it! Big move: Instacart CEO Fidji Simo will become OpenAI's CEO for Applications, the company said this week. Simo is already on the OpenAI board. She'll be tasked with helping OpenAI in scaling 'traditional' company functions, CEO Sam Altman said, but he didn't provide any details on what that means. Speaking of OpenAI: The company decided that its nonprofit division will retain control over its for-profit organization after initially announcing that it planned to convert to a for-profit organization. OpenAI says that it made the decision 'after hearing from civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California.' And speaking of CEO moves: 11x CEO Hasan Sukkar announced that he's stepping down and moving into a 'non-executive chairman' position. In March, TechCrunch reported that 11x had been showing off on its website customer logos of companies that were not active customers, and one of those companies was threatening to sue over the matter. This is TechCrunch's Week in Review, where we recap the week's biggest news. Want this delivered as a newsletter to your inbox every Saturday? Sign up here. News Image Credits:Tesla Trademark friction: Tesla wants to trademark the terms 'Cybercab' and 'Robotaxi' but was denied by the U.S. Patent and Trademark Office because the terms are too generic. Tesla has three months to file a response, or the office will abandon the application. No thanks: Speaking onstage at Stripe's annual Sessions conference in San Francisco on Tuesday, Meta CEO Mark Zuckerberg laid out his plans to automate the entire ad industry with a black-box, end-to-end AI ad tool. As Maxwell Zeff reports, 'It's an open question as to what AI ad testing will do to Meta's platforms from a user experience point of view, considering they're already brimming with generative AI slop.' Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW And speaking of ads: Meta announced at the NewFronts conference that it's testing video ads in Threads. The update follows Meta's recent announcement that Threads now reaches over 350 million monthly active users. Yes, please! I'm not too savvy in the kitchen, so Posha's new robot that cooks your meals for you sounds like a dream come true. You scroll through a list of recipes, select the one you want, add the proper amounts of the requested ingredients, and the machine makes the meal from there. We're back, baby: Before the rise of vertical video, scripted web series on YouTube were successful enough to spin out into cult-favorite TV shows like 'Broad City,' 'Insecure,' and 'Letterkenny.' Now the web series is back, but it lives on a new platform: TikTok. Goodbye to a real one: Bill Gates said Thursday that the Gates Foundation will have just 20 years to exhaust its coffers and wind down operations. He has pledged to donate 99% of his fortune, which today is worth an estimated $107 billion, to the foundation. Analysis Image Credits:Stefano Guidi / Getty Images What's next for OpenAI: OpenAI's new restructuring plan could satisfy regulators and investors who have invested heavily in the company hoping for future profits. But it might also disrupt OpenAI's future ambitions, especially regarding a potential IPO.
Yahoo
05-05-2025
- Business
- Yahoo
11x CEO Hasan Sukkar steps down
Hasan Sukkar, the founder of AI startup 11x, is stepping down from his role as CEO, Sukkar announced on LinkedIn this morning. Prabhav Jain, 11x's CTO, has been named the company's new CEO. Sukkar will move into a 'non-executive chairman' position, where he will work with Jain on 'strategic direction, product vision, industry relationships, and opening new market opportunities,' Sukkar wrote on LinkedIn, helping 11x in any way he can 'into the future.' 'I've spent a lot of time thinking about what it takes to go from a fast growing startup to an enduring enterprise grade scale-up, and I have realised that I love building from the ground up. It's in my bones,' Sukkar wrote on LinkedIn. 'I love 11x and believe in our mission deeply. We have a massive opportunity ahead. But sometimes, loving your company means knowing when to pass the CEO baton for the next leg of the race.' As TechCrunch previously reported in March, 11x at that time had been showing off customer logos on its website of companies that were not active customers, and one of those companies was threatening to sue over the matter. Other sources also told TechCrunch that the 11x product had issues and the company had struggled with customer retention. Some employees also described the startup as a grueling place to work. 11x has raised more than $70 million from investors, including a $24 million Series A led by Sarah Travel, a general partner at Benchmark, and a $50 million Series B led by Andreessen Horowitz. Joe Schmidt, the a16z partner part of the 11x deal, publicly doubled down on his support for the company and its CEO, posting on X in Mach that the firm loved 'Hasan and the entire team at 11x,' and that the 'team, product, and metrics are world class.' Tavel also posted on X saying, 'As a board member, I've seen the progress up close, and our conviction in the team and the opportunity is stronger than ever.' Last week, Tavel also announced she would be taking on the position of venture partner at Benchmark, a more limited role at the storied firm. A spokesperson for 11x sent a lengthy email explaining that the change was intended to put the right person in the CEO role for a new growth phase of the company. "Current CTO, fmr. Brex exec and 3-time founder Prabhav Jain is stepping into the CEO role, with Hasan Sukkar transitioning into a new role as Non-Executive Chairman," the 11x spokesperson wrote. "The move reflects 11x's growth: Over the last year, the company has evolved from a single product, single use-case company to a platform that powers hundreds of the world's leading GTM teams." Benchmark and a16z did not immediately respond to a request for additional comment. Charles Rollet contributed reporting. This article originally appeared on TechCrunch at
TechCrunch
05-05-2025
- Business
- TechCrunch
11x CEO Hasan Sukkar steps down
Hasan Sukkar, the founder of AI startup 11x, is stepping down from his role as CEO, Sukkar announced on LinkedIn this morning. Prabhav Jain, 11x's CTO, has been named the company's new CEO. Sukkar will move into a 'non-executive chairman' position, where he will work with Jain on 'strategic direction, product vision, industry relationships, and opening new market opportunities,' Sukkar wrote on LinkedIn, helping 11x in any way he can 'into the future.' 'I've spent a lot of time thinking about what it takes to go from a fast growing startup to an enduring enterprise grade scale-up, and I have realised that I love building from the ground up. It's in my bones,' Sukkar wrote on LinkedIn. 'I love 11x and believe in our mission deeply. We have a massive opportunity ahead. But sometimes, loving your company means knowing when to pass the CEO baton for the next leg of the race.' As TechCrunch previously reported in March, 11x at that time had been showing off customer logos on its website of companies that were not active customers, and one of those companies was threatening to sue over the matter. Other sources also told TechCrunch that the 11x product had issues and the company had struggled with customer retention. Some employees also described the startup as a grueling place to work. 11x has raised more than $70 million from investors, including a $24 million Series A led by Sarah Travel, a general partner at Benchmark, and a $50 million Series B led by Andreessen Horowitz. Joe Schmidt, the a16z partner part of the 11x deal, publicly doubled down on his support for the company and its CEO, posting on X in Mach that the firm loved 'Hasan and the entire team at 11x,' and that the 'team, product, and metrics are world class.' Tavel also posted on X saying, 'As a board member, I've seen the progress up close, and our conviction in the team and the opportunity is stronger than ever.' Last week, Tavel also announced she would be taking on the position of venture partner at Benchmark, a more limited role at the storied firm. Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW A spokesperson for 11x sent a lengthy email explaining that the change was intended to put the right person in the CEO role for a new growth phase of the company. 'Current CTO, fmr. Brex exec and 3-time founder Prabhav Jain is stepping into the CEO role, with Hasan Sukkar transitioning into a new role as Non-Executive Chairman,' the 11x spokesperson wrote. 'The move reflects 11x's growth: Over the last year, the company has evolved from a single product, single use-case company to a platform that powers hundreds of the world's leading GTM teams.' Benchmark and a16z did not immediately respond to a request for additional comment.
