Author: IBL News

IBL News | New York

Productivity software startup Notion AI is expected to achieve $500 million in revenue this year and a valuation of over $10 billion.

Productivity software is a highly competitive space, with Microsoft and Google at the center.

Originally designed as a “writing assistant” for brainstorming, editing, and summarizing using an OpenAI model, the company has approximately 1,000 employees and over 100 million users.

Corporate clients include Kaiser Permanente, Mitsubishi Heavy Industries, Nvidia, and Volvo Cars.

This month, Notion launched a customizable agent — named Notion 3.0 with Agents — that creates documents to pull in data from various sources, utilizing models from companies like OpenAI and Anthropic.

Another custom agent can be instructed to produce and send a list of articles relevant to a person’s interests on a weekly basis.

Notion’s custom agents can perform actions in the background.

In May, Notion.com introduced AI products for summarizing meetings and searching through corporate files.

IBL News | New York

OpenAI announced the acquisition of Statsig, an experimentation platform that powers A/B testing, feature flagging, and real-time decisioning, which had as a client its current purchaser.

OpenAI, with a $300 billion valuation, is paying $1.1 billion for Statsig in an all-stock deal — one of the largest acquisitions ever for the ChatGPT maker.

Following the transaction, the founder and CEO of Statsig, Vijaye Raji, will step into a new role as CTO of Applications in OpenAI. All Statsig employees will become employees of OpenAI.

The acquisition is part of OpenAI’s effort to build out its applications business, helmed by the former CEO of Instacart, Fidji Simo, who started work at the company in August.