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The Acquisition of Rephrase.ai by Adobe: A New Era of Generative AI Video

Summary

Adobe, a leading software company, has recently acquired the Bangalore-based startup Rephrase.ai, specializing in artificial intelligence and video creation. The co-founder of Rephrase.ai, Shivam Mangla, shared the news on their official Twitter profile. Exciting news! Rephrase.ai is being acquired by […]

The Acquisition of Rephrase.ai by Adobe: A New Era of Generative AI Video

Adobe, a leading software company, has recently acquired the Bangalore-based startup Rephrase.ai, specializing in artificial intelligence and video creation. The co-founder of Rephrase.ai, Shivam Mangla, shared the news on their official Twitter profile.

Exciting news! Rephrase.ai is being acquired by a pioneering tech company that is ushering us into the era of Generative Artificial Intelligence. #GenAI #TechAcquisition #startups,” wrote Shivam Mangla on the microblogging platform.

He further added, “As we embark on this new chapter within a larger organization, the possibilities are endless. I look forward to seeing what our teams will create next in the world of GenAI. The future is creative and bright!”

What happens to the employees at Rephrase.ai? Most of the employees at Rephrase.ai will join Adobe as part of this agreement. However, the report published by the Economic Times did not provide many details about the final value of the deal. It is mentioned that investors in Rephrase.ai are likely to receive a full cash exit, while the founders will be paid a combination of cash and Adobe stocks.

Established in 2019 by IIT alumni Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, Rephrase.ai is a Bengaluru-based startup that provides text-based video generation services. It helps influencers and video creators produce professional video clips. To date, it has raised $13.9 million in funding.

Why is the deal between Adobe and Rephrase important?

The acquisition of Rephrase.ai by Adobe is significant as it marks the first deal by an American software company in the generative artificial intelligence and video tools industry, as reported by the Economic Times. It is important to note that Rephrase has become the first Indian startup to be acquired by Adobe, a company that has primarily made deals in the United States and Europe, aside from its home market.

In an internal message to employees, Ashley Still, Senior Vice President and General Manager of Creative Cloud, stated that the Rephrase.ai team will enhance the generative capabilities of the company in video creation.

“With the experience of the Rephrase.ai team in developing text-to-video generation tools and generative artificial intelligence audio technology, we will be able to deliver more value to our users faster and expand our capabilities in creating generative videos within our leading creative applications,” the internal document stated.

What did the Adobe spokesperson say? Speaking to MoneyControl, the Adobe spokesperson stated that the company has a proven history of combining organic and inorganic innovation to accelerate growth. “We are constantly seeking fresh talent and technological innovation to complement our approach and increase value for our shareholders.”

It is worth noting that Adobe announced its entry into the generative artificial intelligence space earlier this year. The aim is to integrate generative AI tools into its existing services and applications. The company showcased its AI capabilities in video format at the Adobe Max conference, an annual event dedicated to creativity.

FAQ

What is Rephrase.ai?
Rephrase.ai is a startup company based in Bengaluru that specializes in artificial intelligence and video creation. It offers the ability to generate video content based on text, assisting influencers and video creators in producing professional video content.

Who acquired Rephrase.ai?
Rephrase.ai was acquired by Adobe, a major software company based in the United States.

Who are the founders of Rephrase.ai?
The founders of Rephrase.ai are Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, graduates of the prestigious Indian Institute of Technology (IIT).

How much funding has Rephrase.ai raised so far?
Rephrase.ai has raised $13.9 million in funding to date.

Why is this acquisition important?
The acquisition of Rephrase.ai by Adobe is significant as it represents the first deal by an American software company in the generative artificial intelligence and video tools industry. It is also noteworthy that Rephrase has become the first Indian startup to be acquired by Adobe.