Jeff Bezos-Backed Perplexity AI Seeks $500 Million to Double Valuation to $8 Billion

Oct 20, 2024, 08:43 PM

Perplexity AI, an artificial intelligence search company founded in August 2022, is reportedly in fundraising talks to raise around $500 million, aiming to more than double its valuation to $8 billion, according to reports from the Wall Street Journal. This significant increase follows previous valuations of $520 million in January and $3 billion a few months ago. The company's annualized revenue has grown to approximately $50 million, up from $10 million in March. In March 2023, Perplexity AI's Series A funding was led by NEA at a $124 million pre-money valuation. The company offers an AI-based search engine and has attracted support from notable investors, including Jeff Bezos. This would be its fourth fundraising round in a year.