Technology
AI-coding startup Codeium in talks to raise at an almost $3B valuation, sources say

Codeium, an AI-powered coding startup, is raising a new round of funding at a $2.85 billion valuation, including fresh capital, according to two sources with knowledge of the deal.
The round is being led by returning investor Kleiner Perkins, the people said.
The new round comes just six months after Silicon Valley-based Codeium announced that it had closed a $150 million Series C at a $1.25 billion post-money valuation led by General Catalyst with participation of Kleiner Perkins and Greenoaks. TechCrunch could not confirm the dollar amount of the new funding.
Codeium and Kleiner Perkins didn’t respond to a request for comment.
The company has reached about $40 million in annualized recurring revenue (ARR), one person said. Based on that revenue figure, Codeium’s implied valuation is roughly 70 times ARR. That’s a lot higher than other AI code editing companies.
Last month, Anysphere, the maker of AI-powered coding assistant Cursor, announced a new funding round of financing at a $2.5 billion valuation. Based on its reported $100 million in revenue, investors assigned it a 25 times ARR valuation multiple.
In addition to Anysphere, which many investors say is the current leader in the category, Codeium competes with Poolside, Magic, Microsoft’s GitHub Copilot, and many others.
While it’s not clear how Codeuim negotiated such a rich valuation, sources told TechCrunch that the company wasn’t looking to raise new funds before investors approached it about this round.
Codeium tries to distinguish itself from competitors by targeting companies rather than individual developers. Last summer, the company told TechCrunch that the free tier of its platform was being used by over 1,000 enterprise customers, including Anduril, Zillow, and Dell.
In November, the company introduced Windsurf Editor, which can write some of the code without human involvement, an approach that’s known as agentic AI, or “agent mode.” Others, such as Cursor, also offer a similar feature.
Codeium was founded in 2021 by Varun Mohan and his childhood friend and fellow MIT grad, Douglas Chen. Prior to Codeium, Chen was at Meta, where he helped build software tools for VR headsets like the Oculus Quest. Mohan was a tech lead at Nuro, the autonomous delivery startup, responsible for managing the autonomy infrastructure team.

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Technology
Amazon rolls out short-form AI-powered audio product summaries for select items

Amazon is testing short-form AI-powered audio product summaries on select product pages, the company announced on Wednesday. The audio summaries are voiced by what Amazon calls “AI-powered shopping experts” that discuss key product features, customer reviews, and information from across the web.
The new AI product summaries can be accessed by tapping the “Hear the highlights” button in the Amazon Shopping app. Amazon will test the feature on products that typically require consideration before purchase, the company says.
The idea behind the feature is to help Amazon customers save time while shopping and get important information through a conversational, discussion-style format.
“The feature makes product research fun and convenient — it’s like having helpful friends discuss potential purchases to make your shopping easier, even if you’re multitasking or on the go,” the company wrote in their blog post.

The summaries are currently available on select products to some U.S. customers. Amazon plans to roll out the feature to more products and to additional U.S. customers in the coming months.
The company explains that the feature uses large language models (LLMs) to generate scripts by pulling from customer reviews and information from the web, and then transforms this content into short-form audio clips.
Amazon says the new feature joins its current suite of AI-powered shopping features, which includes Rufus, its generative AI shopping assistant, and Interests, an AI feature that monitors new products that match your interests.
Amazon isn’t the only tech giant that’s leveraging short-form AI-powered audio to help users get informed in a quick, efficient way. Last year, Google’s NotebookLM rolled out Audio Overviews, a feature that gives users the ability to generate a podcast with AI virtual hosts based on documents they have shared with the AI research assistant, such as course readings or legal briefs.

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Technology
Luminar kicks off another round of layoffs amid CEO’s sudden resignation

Luminar, the lidar company founded by recently replaced CEO Austin Russell, is going through another restructuring, according to a recent regulatory filing.
This new round of layoffs, which the company did not provide figures for, follows extensive cuts to the workforce in 2024. Luminar cut about 30% of its workforce in 2024, a reduction that was expected to cost $4 million to $6 million in additional cash charges. Some of those layoffs spilled into the first quarter of 2025. A total of 212 employees were laid off.
In its latest regulatory filing, the company said it began additional layoffs May 15. These new layoffs are expected to cost $4 million to $5 million in cash charges. These costs are expected to be incurred in the second and third quarters of this year.
The layoffs are the latest complication for Luminar. Earlier this month, the company’s board replaced Russell as CEO and board chair. The board issued a press release saying he resigned as the result of an ethics inquiry without providing any additional information. Luminar’s board replaced Russell and appointed Paul Ricci to the role. Ricci is the former chairman and CEO of Nuance.
A day after the leadership change was announced, board member Jun Hong Heng also resigned, according to a regulatory filing, which stated his decision was not due to any disagreements with the company on any matter relating to the company’s operations, policies, or practices.
The company has not responded to requests for comment.
Russell became a billionaire after his lidar startup Luminar went public in 2021 after the company merged with special purpose acquisition company Gores Metropoulos Inc., with a post-deal market valuation of $3.4 billion. Luminar raised $250 million prior to the SPAC announcement.

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Technology
In a good sign for consumer internet startups, Creator Ventures raises $45M

“I’ve got a pretty wild story to tell you,” the early YouTube star Caspar Lee says in a TikTok.
He goes on to tell the story of how a startup founder slid into his LinkedIn DMs with a pitch about an eco-friendly deodorant called Wild. He ignored the message at first, but his cousin Sasha Kaletsky, then a Bridgepoint investor, asked Lee if he and some other creators wanted to get in on the seed round. This April, about five and a half years later, Wild sold to Unilever for £233 million, or around $286 million.
Wild would be just the tip of the iceberg for Kaletsky and Lee. In 2019, they formed Creator Ventures, a seed and pre-seed venture capital fund focused on consumer internet companies. Now, Creator Ventures is launching its second fund with $45 million, more than double its previous $20 million fund.
Creator Ventures already has a track record of making some solid bets on seed-stage startups. Eleven Labs, an AI audio company now valued at over $3.3 billion, was part of Creator Ventures’ Fund I. Soon after Unilever acquired Wild, another Creator Ventures-backed company, Runna, exited to running app Strava. The firm has also invested in buzzy newsletter platform Beehiiv, and it led AI language learning app Praktika‘s seed round.
After six years working with its first fund, the Creator Ventures Fund II will continue investing in consumer-facing companies, but with a closer eye on AI — that’s not a surprise to hear in 2025.
“There’s a trillion dollars of spend that goes through the iOS and Android app stores every year, and if even a small proportion of that becomes taken by consumer AI apps, that’s going to be a whole lot of unicorns,” Kaletsky told TechCrunch.
Aside from the interest in AI, Kaletsky sees some other burgeoning trends in the consumer internet space. He’s particularly interested in microdrama streaming apps, which have long been popular in Asian markets, but have started making a real dent in the U.S.
“The crazy part about ReelShort, which is fascinating, is the pricing,” Kaletsky said. “People sometimes don’t realize they’re charging $20 a week… it’s far more expensive than Netflix.”
So far this year, according to app store data provider Appfigures, the microdrama apps DramaBox and ReelShort have made $99 million and $152 million from in-app purchases in the U.S., respectively. Those figures reflect a 203% and a 233% year-over-year growth from the same time frame in 2024.
Some of Creator Ventures’ bets are a bit more speculative. Kaletsky and Lee are also excited about an app in their portfolio called Status, a social network-like app where users post updates to an audience of AI bots, meaning that no one actually sees what they post. The bots might love your posts or cancel you. The company markets itself as “Sims but social media.”
These AI bot-filled social network startups have been cropping up over the last year, though to a skeptic, the appeal of AI-only social experiences may seem dubious. But according to Creator Ventures, Status has over 1 million global users after launching earlier this year.
Though Creator Ventures isn’t necessarily a creator economy fund, the entrepreneurial parallels between startup founders and content creators like Lee remain at the center of the firm’s vision.
“A lot of consumer internet founders find that the real exciting go-to-market strategy is around social,” Lee said. “A lot of these founders are becoming creators in their own right… and that’s something I love to get involved in as someone who comes from that world.”
Fund II is propped up by Level, Cendana, Vintage, Isomer Capital, Sequoia, and other partners. Kaletsky said that some of the Fund II backers hadn’t invested in consumer-dedicated funds in over ten years.
“I think, hopefully, people are starting to see the potential of consumer in this era,” Kaletsky said.
Lee added, “It’s nice for us to be able to invest in things that our friends and family can come across.”

A blog which focuses on business, Networth, Technology, Entrepreneurship, Self Improvement, Celebrities, Top Lists, Travelling, Health, and lifestyle. A source that provides you with each and every top piece of information about the world. We cover various different topics.
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