Paperspace, the cloud machine learning, AI, and FPU infrastructure platform, has been acquired by DigitalOcean, the cloud service provider for $111M in cash. “DigitalOcean is renowned for simplifying complex cloud technologies and making them more accessible to developers and business alike,” remarked Dillon Erb, Cofounder and CEO of Paperspace. “We are thrilled to join forces with DigitalOcean, as we believe there is no better company to unlock the endless possibilities of AI/Ml for developers and businesses alike.”
DigitalOcean is renowned for simplifying complex cloud technologies and making them more accessible to developers and business alike.
We are thrilled to join forces with DigitalOcean, as we believe there is no better company to unlock the endless possibilities of AI/Ml for developers and businesses alike. – Dillon Erb
Founded in 2014 by Daniel Kobran and Erb, Paperspace had raised a total of $35M in total reported equity funding. Investors in the company include Y Combinator, Intel Capital, Battery Ventures, Initialized Capital, DCVC, Ludlow Ventures, Zillionize, Amino Capital, QueensBridge Venture Partners, Fusion Fund, Transmedia Capital, Sorenson Capital, Rocketship.vc, InnoSpring Seed Fund, SineWave Ventures, and Center Electric.
“We are excited to expand our portfolio tailored to the world’s SMBs and startups with simplified AI/ML offerings,” said Yancey Spruill, CEO of DigitalOcean. “This acquisition marks a significant milestone in DigitalOcean’s journey to revolutionize how SMBs and startups harness the power of the cloud and AI/ML for their applications and businesses. The combined offerings allow customers to focus more on building applications and growing their businesses and less on the infrastructure powering them.”
We are excited to expand our portfolio tailored to the world’s SMBs and startups with simplified AI/ML offerings. This acquisition marks a significant milestone in DigitalOcean’s journey to revolutionize how SMBs and startups harness the power of the cloud and AI/ML for their applications and businesses. The combined offerings allow customers to focus more on building applications and growing their businesses and less on the infrastructure powering them. – Yancey Spruill
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- Source: https://www.alleywatch.com/2023/07/paperspace-acquisition-digitaocean-price-transaction-ai-llm-instrastructure/
