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Buzzy Storytelling Startup Tome Raises $43 Million From A Who’s Who In AI

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Summary

Buzzy storytelling startup Tome has raised $43 million from renowned investors to capitalize on its success since its September release. The company, which is valued at $300 million pre-revenue, uses AI models from OpenAI to generate presentations, stories, 3-D prototypes and more, leading to it passing 1 million users in 134 days. Investors, such as Lightspeed Venture Partners, Coatue, Greylock, and former Google CEO Eric Schmidt, believe Tome can be a PowerPoint and Google Slides killer. Although there are doubts, Tome's founders believe their product is defensible and have sought out allies in the productivity software and AI worlds.

Q&As

What is the startup Tome and how does it work?
Tome is a storytelling startup that uses AI models to generate presentations, stories, 3-D prototypes, and more. It uses a black canvas with a chat box where users can type in a prompt and the AI will generate a presentation based on the prompt.

What is the value of Tome after its Series B funding round?
Tome is valued at $300 million post-investment after its Series B funding round.

How quickly did Tome reach 1 million users?
Tome passed 1 million users 134 days after its September launch.

What is the long-term vision for Tome and how will it remain competitive?
Tome's long-term vision is to build and maintain their own specially trained models to make its generations more advanced. They also plan to charge about $10 per user for a monthly subscription when they roll out their enterprise version this year. They are also actively seeking out allies and plan to meet with Stability AI and OpenAI rival Anthropic to discuss using their models in an enterprise solution.

How did Tome respond when a student's teacher discovered they had used the software for a class presentation?
Tome provided logs to back up the student's claim that they had only used Tome's AI generations as a starting point. The teacher allowed the student to redo the project for up to 70% credit, and in the required Google Slides.

AI Comments

👍 Buzzy Storytelling Startup Tome has raised an impressive $43 million from some of the biggest names in AI. It is amazing how quickly Tome was able to reach 1 million users in only 134 days since their launch.

👎 Tome is not making any sales yet, and their AI-generated output may be easily copied by other software startups and incumbent companies. There is also some skepticism over whether press-a-button AI tools will be able to create high-quality assets quickly.

AI Discussion

Me: It's about a startup called Tome that raised $43 million from a who's who in AI. They offer a unique storytelling platform powered by AI, which can help users create compelling stories and presentations quickly.

Friend: Wow, that's really interesting. What are the implications of this article?

Me: I think the main implication is that AI is becoming a more prominent force in the world of storytelling and presentations. It's clear that AI can help speed up the process of creating presentations, making it easier and faster than ever before. Additionally, this article shows that AI-powered products are gaining traction in the market, and that investors are increasingly willing to back them. Finally, this article shows that there is potential for AI to be used in more creative ways, such as storytelling and presentations.

Action items

Research other AI-based productivity tools and compare their features to Tome.
Create a presentation using Tome and share it with colleagues to get feedback.
Explore the potential of using AI models to generate content for other types of projects.

Technical terms

Buzzy: Exciting, fashionable, and popular.
Venture Capital: Money invested in a business venture with the expectation of a financial return.
AI: Artificial Intelligence, the ability of a computer or machine to think and learn.
Pre-Revenue: A company that has not yet generated any revenue.
OpenAI: A research laboratory focused on artificial intelligence.
GPT: Generative Pre-trained Transformer, a type of artificial intelligence model.
PowerPoint: A presentation program developed by Microsoft.
Google Slides: A presentation program developed by Google.
Series A/B Funding Round: A type of venture capital financing in which a company receives investment from venture capitalists in exchange for equity.
Walled Garden: A closed platform or system that does not allow users to access content from outside sources.
Modular: A system or structure composed of multiple parts that can be connected or disconnected.
Generative AI: Artificial intelligence that can generate new content.
Unicorn: A privately held startup valued at over $1 billion.
Defensible: Able to be defended or protected.
Incumbent: An established company or organization.
Subscription: A payment made regularly for access to a service or product.
Term Sheet: A document outlining the terms of an agreement between two parties.
Mock-up: A prototype or sample of a product.
Embedding: The process of adding content from one source into another.