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Instinct raises $1B at $10B valuation with 14 employees
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Instinct raised $1B at a $10B valuation, from Benchmark, Sequoia, Coatue They have 14 employees. Most of the new money will go toward compute, which CEO Noah spends 40% of his time acquiring. They are growing 10% a day, had $1B of transaction volume, 50% of which is travel
Sheel Mohnot@pitdesiSep 10
Instinct looking to raise $1B, potentially at a $10B valuation. Compute costs are high and Noah doesn’t want to charge users for the product. Instinct has raised $350M to date, mostly uses open source models and wants to own chips and data centers https://www.theinformation.com/articles/personal-ai-app-instinct-faces-compute-crunch-lead-new-funding?rc=vw7lcs&shared=6aaaf03b4c2031c0
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