Patreon’s internal valuation fell 70% over the past year, according to a memo sent to staff in September, Insider reported. The 409A valuation, calculated by a third party firm to measure the value of one share of its stock, is different from the $4 billion post-money valuation it fetched in April 2021 when it raised $155 million in Series F funding round from Tiger Global. In August, it...
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Oracle’s Answer to the Microsoft-OpenAI Alliance: Cozying Up to Cohere
Oracle has invested in Cohere, an artificial intelligence startup that competes with OpenAI, the startup said on Thursday. What Cohere didn’t say: Oracle plans to make the startup a centerpiece of its strategy to catch up to bigger cloud rivals that sell services powered by large-language models. Steve Miranda, a senior Oracle executive, has told employees the company plans to sell access...
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