- Parag Agrawal up to date his LinkedIn web page along with his AI startup’s identify for the primary time: Parallel Web Systems.
- The ex-Twitter CEO raised about $30 million for the startup, The Information reported in January.
The former CEO of Twitter has moved his AI startup out of stealth mode with a beforehand unknown identify: Parallel Web Systems.
It’s unclear when Parag Agrawal up to date his LinkedIn profile with the startup’s identify, however he has been engaged on the enterprise since at the least the beginning of 2024.
Agrawal raised about $30 million for the startup, The Information reported in January when the startup’s identify was nonetheless unknown. Some of the startup’s backers embody enterprise capital companies Khosla Ventures, Index Ventures, and First Round Capital.
The firm’s LinkedIn web page, which exhibits 10 different folks working for it, hyperlinks to an official web site that exhibits it is constructing an “API for AIs utilizing net knowledge.”
Parallel’s web site is brief on particulars about its mission aside from stating that it’s growing “methods for superior AIs to work with the online.”
It additionally predicts that AI will use the online on behalf of people. The web site description says: “Access and computation on the internet will enhance by a number of orders of magnitude. Everything from the infrastructure to enterprise fashions might want to evolve.”
The startup is predicated in Palo Alto, California, per its web site. However, the phrases of service part lists an deal with in San Francisco that may be a brief drive from the previous workplace of Twitter, now known as X.
Company filings present {that a} separate entity, Shapley Inc., of which Agrawal is a company officer, is registered to the identical deal with.
It’s unclear when Agrawal registered the web site area.
From Twitter to AI startup
Agrawal was the CEO of Twitter from November 2021 to October 2022, when Elon Musk fired him following his acquisition of the platform.
According to Kurt Wagner’s guide “Battle for the Bird,” which particulars Musk’s $44 billion deal to purchase Twitter, the billionaire complained to Agrawal about an account that tracked his personal jet. Musk reportedly requested the then-Twitter CEO to take away it, however Agrawal denied his request.
Wagner stated in an X put up in February that Musk began shopping for shares in Twitter in the identical month he complained in regards to the jet monitoring account. He then grew to become its greatest shareholder by April 2022 after build up a 9.2% stake.
The acquisition was finalized in October 2022, and one among Musk’s first strikes was to fireplace Agrawal, together with former chief monetary officer Ned Segal, prime authorized and coverage govt Vijaya Gadde, and normal counsel Sean Edgett.
The ex-Twitter chief and the three different former executives filed a lawsuit towards Musk in March for $128 million, claiming unpaid severance.
Parallel Web Systems did not instantly reply to a request for remark from Business Insider, made outdoors regular working hours.
