Latest news with #ThielFellow
Yahoo
28-05-2025
- Business
- Yahoo
Context gets $11M to build an AI-powered office suite
Context, a startup building an AI-powered office suite, on Wednesday announced that it raised $11 million in a seed round led by Lux Capital with participation from Qualcomm Ventures and General Catalyst. The round, which brings the company's total raised to around $15.75 million, values Context at $70 million. Founder Joseph Semrai, a Thiel Fellow, started working on Context in 2024 after he realized that current digital office suites are not well suited to take advantage of AI models. "[W]e have a bunch of disparate applications that aren't necessarily built keeping the power of [AI models] in mind," Semrai told TechCrunch in a phone interview. "We want to take advantage of the fact that [models] can understand large context windows and use multiple applications at the same time to get the best result." Over the past few years, many startups in the productivity and browsing space have made user interface changes to adopt a chat-forward experience, largely thanks to the rise of AI-powered chatbots like ChatGPT. Semrai thinks that Context, which is similarly chat-focused, can be a powerful tool for workers using an office suite, similar to how Cursor has become a useful application for programmers. Office suite makers like Google and Microsoft have infused AI into their applications. Canva, which has been in the creative space historically, is also designing products that suit all kinds of office work with AI at the center. Notion, meanwhile, is building an enterprise workplace with an AI search and research mode. Many of these products offer connectors to third-party applications. But Semrai said that while connecting to sources and retrieving data is becoming commoditized, new-age tools don't always deliver capabilities that help with analysis. That, he said, is where Context comes in — it's designed to make it easier for users to reason over the data they fetch from various sources and make decisions based on that. Context has a simple interface with a chat box in the center. You can ask the AI tool to perform research derived from your documents, integrations, and web knowledge. You can then ask it to convert all this to a document, spreadsheet, or presentation, while continuing to interact with it to generate different artifacts. Context also offers a Python interpreter to let you run code. The goal isn't necessarily replacing a fully-featured office suite like Microsoft 365. Rather, Context is going after a market not well-served by the current crop of tools, according to Semrai. For example, unlike many AI-powered data analysis products, Context will soon be able to work offline, enabling simple analysis and document drafting based on existing data and documents via Context's desktop client. Users can try out Context for free with 50 credits, one workspace, and 10 team members. Alternatively, they can pay $20 per month to get 2,000 credits with no limits on workspaces and team members. This article originally appeared on TechCrunch at
TechCrunch
28-05-2025
- Business
- TechCrunch
Context gets $11M to build an AI-powered office suite
Context, a startup building an AI-powered office suite, on Wednesday announced that it raised $11 million in a seed round led by Lux Capital with participation from Qualcomm Ventures and General Catalyst. The round, which brings the company's total raised to around $15.75 million, values Context at $70 million. Founder Joseph Semrai, a Thiel Fellow, started working on Context in 2024 after he realized that current digital office suites are not well suited to take advantage of AI models. '[W]e have a bunch of disparate applications that aren't necessarily built keeping the power of [AI models] in mind,' Semrai told TechCrunch in a phone interview. 'We want to take advantage of the fact that [models] can understand large context windows and use multiple applications at the same time to get the best result.' Over the past few years, many startups in the productivity and browsing space have made user interface changes to adopt a chat-forward experience, largely thanks to the rise of AI-powered chatbots like ChatGPT. Semrai thinks that Context, which is similarly chat-focused, can be a powerful tool for workers using an office suite, similar to how Cursor has become a useful app for programmers. Context founder Joseph Semrai Image Credits: Context Office suite makers like Google and Microsoft have infused AI into their applications. Canva, which has been in the creative space historically, is also designing products that suit all kinds of office work with AI at the center. Notion, meanwhile, is building an enterprise workplace with an AI search and research mode. Many of these products offer connectors to third-party applications. But Semrai said that while connecting to sources and retrieving data is becoming commoditized, new-age tools don't always deliver capabilities that help with analysis. That, he said, is where Context comes in — it's designed to make it easier for users to reason over the data they fetch from various sources and make decisions based on that. Context has a simple interface with a chat box in the center. You can ask the AI tool to perform research based on your documents, integrations, and web knowledge. You can then ask it to convert all this to a document, spreadsheet, or presentation, while continuing to interact with it to generate different artifacts. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. 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 | REGISTER NOW Context also offers a Python interpreter to let you run code. The goal isn't necessarily replacing a fully-featured office suite like Microsoft 365. Rather, Context is going after a market not well-served by the current crop of tools. For example, unlike many AI-powered data analysis products, Context will soon be able to work offline, Semrai said, enabling simple analysis and document drafting based on existing data and documents via Context's desktop app. Users can try out Context for free with 50 credits, one workspace, and 10 team members. Alternatively, they can pay $20 per month to get 2,000 credits with no limits on workspaces and team members.
NDTV
24-04-2025
- Business
- NDTV
AI Startup Founder Lucy Guo Replaces Taylor Swift As World's Youngest Self-Made Woman Billionaire
Taylor Swift claimed the title of the youngest self-made woman billionaire in the world in 2023. But two years later, she has been overtaken by Lucy Guo, the 30-year-old cofounder of Scale AI, according to Forbes. Ms Guo, a computer science college dropout, is also one of only six self-made women billionaires on the planet who are under the age of 40. In 2018, she also made it to Forbes' 30 Under 30 list. Currently, her net worth stands at 1.3 billion. Who is Lucy Guo? Ms Guo cofounded artificial intelligence firm Scale AI in 2016, when she was 21 years old, alongside then-19-year-old Alexandr Wang. While Mr Wang became CEO, Ms Guo ran the operations and product design teams at the San Francisco startup. But the same year, the duo disagreed about how the company was being run, and Mr Wang reportedly fired Ms Guo. After leaving the firm, the 30-year-old held on to most of her stake in the company while pursuing her next startup. According to Forbes, she still owns an estimated stake of 5% of Scale AI, which is now worth nearly $1.2 billion. The outlet estimates Ms Guo is worth $1.3 billion, considering her stake in Scale AI and her holding in her second startup, Passes. "I don't really think about it much, it's a bit wild. Too bad it's all on paper haha," Ms Guo told Forbes. Ms Guo is now one of only six self-made women billionaires on the planet who are under the age of 40. She is also the only one who's made the bulk of her fortune from a company she left years ago. Ms Guo is the daughter of Chinese immigrant parents. She grew up in the San Francisco Bay Area. She studied computer science and human-computer interactions at Carnegie Mellon University, but dropped out before graduating to become a Thiel Fellow - a program sponsored by billionaire investor Peter Thiel. Before finding Scale AI, Ms Guo worked as a product designer at question-and-answer firm Quora, where she met Mr Wang. She then left Quora and worked briefly at Snapchat doing product design before she and Mr Wang decided to cofound Scale AI in 2016. After leaving Scale, she started a small venture capital firm called Backend Capital to invest in early-stage companies. Then, in 2022, she started her own business called Passes, a platform for creators and celebrities to connect with fans, who pay for online chats and videos.
Time of India
21-04-2025
- Business
- Time of India
Tech takes the crown: Lucy Guo beats Taylor Swift in billionaire race
Taylor Swift , the name synonymous with sold-out stadiums and record-breaking hits, experienced a monumental career high as her " Eras Tour " catapulted her into billionaire status in 2024 with a total net worth of $1.6 billion, making her youngest self-made woman billionaire at 33. However, the crown of "youngest self-made woman billionaire" has now been passed on to Lucy Guo , the 30-year-old co-founder of the artificial intelligence powerhouse Scale AI . Guo's journey to billionaire status is a stark contrast to Swift's stadium-filling trajectory. The daughter of Chinese immigrant parents, she honed her coding skills in the tech-saturated San Francisco Bay Area from a young age. Her academic path at Carnegie Mellon University, where she studied computer science and human-computer interaction, was unconventional. Driven by an entrepreneurial fire, Guo dropped out before graduating to become a Thiel Fellow, a program funded by billionaire investor Peter Thiel that empowers promising young minds to build companies instead of finishing college – a path she shares with India's OYO founder Ritesh Agarwal. Live Events The twist in Guo's billionaire tale? She hasn't been actively involved with Scale AI for years. Co-founding the company in 2016 at just 21 alongside Alexandr Wang, she played a crucial role in its early success, even landing both on Forbes' Under 30 list by 2018. However, that same year brought a reported falling out with Wang, leading to her departure. Despite this separation, Guo held onto a significant stake in Scale AI. Adding her other assets, Forbes pegs her total net worth at $1.25 billion. This makes her a unique figure – a billionaire largely thanks to a company she helped build but no longer operates. Life after Scale AI has been equally dynamic for Guo. She co-founded Backend Capital , a venture capital firm focused on backing emerging companies. Leveraging her tech acumen and investment insights, she then launched her own venture, Passes. This platform, drawing parallels to Patreon and OnlyFans, connects creators and celebrities with fans who pay for exclusive online interactions like chats and videos. Passes has already attracted notable names like basketball legend Shaquille O'Neal, DJ Kygo, and former Disney star Bella Thorne, showcasing Guo's ability to navigate the creator economy.
Forbes
17-04-2025
- Business
- Forbes
Scale AI Cofounder Is The World's Youngest Self-Made Woman Billionaire
Buzzy artificial intelligence company Scale AI is wrapping up a tender offer that allows early employees and investors in the nine-year-old private company to sell shares to new or returning investors. The deal, which one source said will 'go ahead provided the sky doesn't fall down' and is slated to be completed by June 1, values the AI company at $25 billion, according to several people familiar with the offer. That's an 80% jump since last May, when it raised $1 billion at a $13.8 billion valuation. The new valuation makes Lucy Guo, the 30-year-old cofounder of Scale AI, the youngest self-made woman billionaire on the planet. Guo unseats pop star Taylor Swift, 35, who has held that title since Forbes declared her a billionaire in late 2023. Guo, a computer science college dropout, cofounded artificial intelligence firm Scale AI in 2016–when she was 21–with Alexandr Wang, who was then 19. Wang became CEO and Guo ran the operations and product design teams at the San Francisco startup. The cofounders both made Forbes' Under 30 list in 2018. That same year, the pair disagreed about how the company was being run, and Wang reportedly fired Guo. 'We had a difference of opinion but I am proud of what Scale AI has accomplished,' Guo says in a statement. After leaving Scale AI, she astutely held on to most of her stake in the company while pursuing her next startup. Guo still owns an estimated stake of just under 5% of Scale AI worth nearly $1.2 billion; she won't comment on whether she is selling any of her stake as part of the tender offer. Add in her other assets–including her holding in her second startup, Passes–and she's worth $1.25 billion, Forbes estimates. 'I don't really think about it much, it's a bit wild. Too bad it's all on paper haha,' says Guo via text in response to her new billionaire status. The bump in Scale's value also lifts the fortune of the world's youngest self-made billionaire, CEO Alexandr Wang, to an estimated $3.6 billion, up from $2 billion. A spokesperson for Scale AI declined to comment. Guo is one of just six self-made women billionaires on the planet under the age of 40. She's also the only one who's made the bulk of her fortune from a company she left years ago. The daughter of Chinese immigrant parents, Guo grew up in the San Francisco Bay Area and began coding while in middle school. She studied computer science and human-computer interactions at Carnegie Mellon University, but dropped out before graduating to become a Thiel Fellow– a program sponsored by billionaire investor Peter Thiel to pay entrepreneurial college-age students to create companies. In 2015, Guo got a job as a product designer at question-and-answer firm Quora, where she met Wang. She left Quora and worked briefly at Snapchat doing product design before she and Wang decided to cofound Scale AI in 2016. The company essentially does what Wang has called 'the picks and shovels' work, labeling the data required to power AI. Scale started out by paying low wages to contract workers who labeled images needed to train the AI for self-driving cars. Customers grew to include the U.S. government–Scale's tech has been used to analyze satellite images in Ukraine–and OpenAI, for help in training ChatGPT. After Guo left Scale, she started a small venture capital firm called Backend Capital to invest in early stage companies. One of its best investments: a six-figure bet in 2020 on financial software firm Ramp–a company now valued at $13 billion (all three of its cofounders are now billionaires). Then, in 2022, she shifted her focus away from the VC firm to start her own business called Passes, which is similar to Patreon and OnlyFans, a platform for creators and celebrities to connect with fans, who pay for online chats and videos. Passes signed deals with celebrities including gymnast Olivia Dunne, basketball legend Shaquille O'Neal and DJ Kygo. Guo raised $50 million over three rounds from 2022 to 2024 from investors like Mary Meeker's Bond Capital, talent agent Michael Ovitz and Menlo Ventures, valuing the company at $150 million. Last month Passes was hit with a lawsuit accusing the company of hosting child sexual assault material (CSAM). As Forbes reported in March, right before the suit was filed, Passes banned all underage creators and purged the site of their content. A spokesperson for Passes told Forbes last week that it 'refutes any claims that it approved or condoned the posting of underage explicit content on its platform. Any effort to attribute alleged misconduct of third parties to Passes is baseless and nothing more than an effort to entangle Passes and its founder, Lucy Guo, in the lawsuit.' In addition to spending long hours at work, Guo is religious about her daily workouts at gym chain Barry's Bootcamp. In early April she posted on Instagram 'Discipline > Sleep. 3000 classes complete' below a photo of her at Barry's in West Hollywood holding a sign that read 'Lucy Hiits 3000!' Her other favorite thing to post: photos from music festivals like Coachella and the recent Ultra Music Festival in Miami. It's a mix of work and fun that never ends. Last weekend, Passes threw a big bash tied to the Coachella Music Festival, which started on Friday, April 11. Said Guo via text from Los Angeles, where she now lives, 'Quite literally thousands of RSVPs.' Additional reporting by Iain Martin
