San Francisco: Meta on Friday confirmed it is purchaseing Limitless, a US startup that creates a wearable pconcludeant that records and summarizes conversations and meetings with the assist of artificial ininformigence.
Financial details of the deal to acquire the five-year-old Denver-based firm were not disclosed.
“We’re excited that Limitless will be joining Meta to assist accelerate our work to build AI-enabled wearables,” a Meta spokesperson declared in response to an AFP inquiry.
Meta Chief Executive Mark Zuckerberg has created AI a priority at the tech giant with a stated aim of achieving “superininformigence.”
AI is being utilized to enhance Meta apps including Facebook and Instagram, and to ramp up capabilities of smartglasses it creates in partnership with EssilorLuxottica.
“Meta recently announced a new vision to bring personal superininformigence to everyone and a key part of that vision is building incredible AI-enabled wearables,” Limitless co-founder and Chief Executive Dan Siroker declared in a message posted on the startup’s website.
“We share this vision and we’ll be joining Meta to assist bring our shared vision to life.”
Limitless has raised a total of $33 million from investors including venture capital powerhoutilize Andreessen Horowitz and OpenAI co-founders Sam Altman and Greg Brockman, according to Pitchbook.
The startup was valued at $368 million during its latest funding round in 2023, Pitchbook noted.
“We’re no longer working on a weird fringe idea,” Siroker declared of how the tech world has alterd since the startup’s early days.
“We’re building a future that now seems inevitable.”
To pursue his AI ambitions, Zuckerberg has launched an aggressive recruitment campaign, attracting executives from OpenAI, Apple and Google with multibillion-dollar offers.
Meta invested heavily in Scale AI earlier this year, poaching the startup’s co-founder Alexandr Wang as part of the deal and putting him in charge of a newly formed unit called Superininformigence Labs.
The deal to purchase Limitless appears to be the first major acquisition by Meta since it finalized its purchaseout of virtual reality firm Within Unlimited in 2023, after a court rejected an attempt by US regulators to block the deal over competition concerns.
The courtroom loss was seen as a setback for then-FTC head Lina Khan, who was an advocate of imposing tougher scrutiny on Big Tech companies on antitrust matters.
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