Source: Bloomberg
Summary
Instagram co-founder Kevin Systrom’s new company, Artifact, has reportedly raised $20 million in funding from investors. The company is developing an AI-powered news app. The funding round was led by venture capital firm Greylock Partners.
Our Reading
The launch follows a familiar script.
Artifact’s AI-powered news app is just the latest in a long line of “revolutionary” news platforms. Because what the world really needed was another news aggregator. The company has already raised $20 million in funding, because that’s what you do when you’re trying to disrupt the status quo. The app is still in development, but we can’t wait to see how it will “change the way we consume news.” Again.
Author: Evan Null
