Magical Trade
Monday, May 16, 2022
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

Text-checking software maker Grammarly is worth $13 billion in latest funding round

by
November 18, 2021
in Trade News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Abbott reaches agreement with FDA to reopen baby formula plant to ease nationwide shortage

The Ukraine war is creating a jobs crisis in Russia

Grammarly CEO Brad Hoover.

Grammarly

Grammarly, a start-up whose software highlights issues as people write in its web app and other programs, said Wednesday that it sports a $13 billion valuation after taking on $200 million in new funding from Baillie Gifford, General Catalyst, funds and accounts managed by BlackRock and other investors.

The backing shows investors are willing to pay a premium for a specific type of productivity software, despite the dominance of cash-rich companies such as Google and Microsoft in the market.

Notion, a start-up whose software enables people to create collaborative documents, said in a statement last month that it had raised money at a $10 billion valuation, and Forbes reported in March that Airtable, a start-up developing next-generation spreadsheet software, was worth about $5.8 billion.

Grammarly’s free service picks up on misspellings, grammatical mistakes and unnecessary words. A paid version offers additional types of recommendations and detects plagiarism. Business and enterprise tiers help workers stay compliant with style guides and a common brand voice. Around 30 million people use Grammarly every day.

Google Docs and Microsoft Word can do some of what Grammarly can do. Services such as Advance Publications-owned Turnitin can find instances of plagiarism. But given all of its capabilities, Grammarly doesn’t have a single direct competitor, CEO Brad Hoover told CNBC in an interview.

The start-up performs benchmarks to see how it’s performing on grammatical feedback, relative to alternatives.

“We’re best in class there,” Hoover said. “That’s also because we’ve been focusing on this for so long and built up quite a bit of infrastructure under the hood to enable us to return these broad, precise, explainable results.”

But Grammarly has been focused on English, and it will continue to be, Hoover said. Meanwhile, Microsoft’s Editor feature for browser extensions and Office applications supports over 20 languages.

Dmytro Lider, Max Lytvyn and Alex Shevchenko started Grammarly in 2009. Today the company has over 600 employees, with offices in San Francisco; Vancouver, British Columbia; and the Ukrainian city of Kyiv.

WATCH: Picking the right tech stocks amid inflation concerns

ShareTweetPin

Related Posts

Abbott reaches agreement with FDA to reopen baby formula plant to ease nationwide shortage

by
May 16, 2022
0

A woman shops for baby formula at Target in Annapolis, Maryland, on May 16, 2022, as a nationwide shortage of...

The Ukraine war is creating a jobs crisis in Russia

by
May 16, 2022
0

As companies flee Russia, their Russian employees are seeing their jobs suddenly vanish. Tens of thousands of such employees will...

Microsoft CEO Satya Nadella tells employees that pay increases are on the way

by
May 16, 2022
0

Microsoft CEO Satya Nadella speaks during the Microsoft Annual Shareholders Meeting at the Meydenbauer Center on November 28, 2018 in...

Rivian’s shares sink after a report says legal battle with a supplier could delay Amazon vans

by
May 16, 2022
0

In this article RIVN Production of electric Amazon delivery vans on April 11, 2022 at Rivian's plant in Normal, Ill....

Twitter stock has lost all of its gains since Elon Musk disclosed his stake

by
May 16, 2022
0

In this photo illustration, Twitter account of Elon Musk is seen on a smartphone screen and Twitter logo in the...

Next Post

Asia-Pacific markets mixed as Hong Kong tech shares sell off, oil prices decline further

China's Baidu wants to launch its driverless robotaxi service in 100 cities by 2030

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • ‘Conviction sell’: UBS says avoid these global stocks amid rising headwinds

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs "Will Higher Rates Put Out the Housing Fire?"

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net