OpenAI will hire the entire team behind the executive coaching platform Convogo – an AI startup whose software that helps tech leaders automate and improve leadership assessments. According to a report by TechCrunch, this is ChatGPT-maker’s ninth acquisition in 12 months, and brings the startup’s three co-founders and their staff in an all-stock deal.According to the report, the acqui-hire is aimed at accelerating OpenAI’s “AI cloud efforts”. The company, however, is not acquiring Convogo’s intellectual property or technology, which means that Convogo will be shut down. Convogo originated as a “weekend hackathon” project by co-founder Matt Cooper. Over the past two years, the startup scaled quickly, partnering with some of the world’s leading leadership development firms.
Convogo cofounders write message to staff
In a farewell email to users, co-founders Matt Cooper, Evan Cater and Mike Gillett noted that their work revealed a gap between new AI model releases and “real-world outcomes”.“We’re convinced now more than ever that the key to bridging that gap lies in thoughtful, purpose-built experiences. That’s why we’re thrilled to join OpenAI to continue our work of making AI accessible and useful to professionals in every industry,” the founders wrote, as per the report.
OpenAI’s aggressive talent-hiring strategy
OpenAI has made several acquisitions over the past one year. According to PitchBook data, the company has utilised these mergers and acquisitions as a talent and capability accelerator. Last year, OpenAI acquired Software and Roi in October, Alex and Statsig in September and former Apple designer Jony Ive’s iO in May 21 for $6.5 billion.With the latest acqui-hire, Convogo joins Roi, Context.ai and Crossing Minds, where the startups were shuttered to absorb their engineering talent.