Stability AI’s First Acquisition Furthers Its Goal Of Delivering The Most Advanced Creative Applications With Its Open Source Generative AI Models
Stability AI, the world’s leading open source generative AI company, announces that it has acquired Init ML, makers of the globally popular imaging tool Clipdrop.
The deal bolsters Stability AI’s drive to build best-in-class applications using its powerful open source generative AI models. It also provides Clipdrop’s developers with the most advanced AI technology and computing power for its next generation of imaging tools.
“We are excited to integrate the latest upcoming Stability AI generative models into the Clipdrop platform, enabling our technology to be easily accessible by creators everywhere,” said Stability AI founder and CEO Emad Mostaque. “This acquisition will provide Clipdrop with the resources it needs to advance the next era of gener ative AI, marking a new milestone in our shared journey to democratize the power of AI and multimodal foundation models in creative workflows.”
Paris, France-based Init ML was founded in July 2020, and garnered a seed investment from AI venture capital firm Air Street Capital. Since then, its flagship suite of imaging applications Clipdrop has amassed more than 15 million users.
Init ML will operate as a wholly-owned, independent subsidiary of Stability AI, with all of its employees remaining on board. Init ML CEO Cyril Diagne will take on the role of Vice President of Innovation, Clipdrop, COO Damien Henry will take on the role of Senior Vice President of Product, Clipdrop, and CTO Jonathan Blanchet will become Vice President of Engineering, Clipdrop.
Clipdrop incorporates advanced machine learning research and engineering in its industry leading imaging tools, including Remove Background and Super Resolution. In addition, Clipdrop has been incorporating Stability AI’s powerful generative AI models into its beta applications.
Init ML CEO Cyril Diagne said, “Stability AI’s support of Init ML will bolster our efforts to create world-class, simple and elegant products powered by state-of-the-art multi-modal generative AI models. I’m proud to announce that the Clipdrop team is now working with Stability AI’s researchers to bring exciting improvements to Clipdrop’s line of products and launch new ones very soon.”
Clipdrop is a six-time winner of Product Hunt’s Product of the Day and winner of the 2020 Golden Kitty Award for Augmented Reality Product of the Year. The Clipdrop app is available on all major platforms, including iOS, Android, macOS, Windows, and Photoshop, as well as on the web (https://clipdrop.co/).
Visit AITechPark for cutting-edge Tech Trends around AI, ML, Cybersecurity, along with AITech News, and timely updates from industry professionals!
