Stability AI lands a lifeline from Sean Parker, Greycroft
How much capital did Stability AI recently raise?
Stability AI recently raised an undisclosed amount of cash from investors including Greycroft, Coatue Management, Sound Ventures, Lightspeed Venture Partners, O'Shaughnessy Ventures, and angel investors Prem Akkaraju, ex-Google CEO Eric Schmidt, Robert Nelsen, and Napster founder and ex-Facebook exec Sean Parker6.
What is Stability AI's commitment to open-source principles as stated by Parker?
Stability AI remains committed to open-source principles, as stated by Parker. The company will continue to develop open-source, open-access, and open-weight models for the benefit of the entire community. This investment will enable the creation of even more powerful models and allow the community to continue pushing the boundaries of human creativity.
Who has joined Stability AI as the executive board chairman?
Sean Parker, the entrepreneur, philanthropist, and former President of Facebook, has joined Stability AI as the executive board chairman. He is joined by newly appointed CEO Prem Akkaraju and other board members, including Greycroft's Dana Settle and Coatue's Colin Bryant1.