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AI Startups Are Pivoting From Flashy Demos To Tech That Pays The Bills
In early 2023, Keith Peiris’s AI-powered presentation startup Tome was growing quickly. It had become the fastest productivity tool to reach 1 million users, Forbes reported at the time, a number that eventually climbed to 25 million. He raised $80 million from top Silicon Valley investors like Lightspeed Venture Partners, Coatue, Greylock and billionaire Reid Hoffman. But by late 2024, Peiris realized he was building the wrong company. It turned out that most people didn’t want to pay for its tools, which generated beautiful slides within minutes. Tome’s users, mainly students and small…
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