AI-Driven Acquisition Aims to Revolutionize Productivity
In a significant move, Grammarly has announced its acquisition of productivity startup Coda. As part of the deal, Coda’s CEO and co-founder Shishir Mehrotra will become the new CEO of Grammarly. The financial terms of the deal have not been disclosed.
A New Era for AI Productivity
The acquisition is expected to transform Grammarly’s AI assistant into an "AI productivity platform" by integrating Coda’s innovative AI tools and products. This will enable Grammarly customers to access a range of new features, including generative AI chat and a comprehensive productivity suite, designed to boost efficiency.
Enhancing the AI Assistant
Grammarly’s current CEO, Rahul Roy-Chowdhury, has announced his decision to step down from his role and will work alongside Mehrotra as an advisor. Mehrotra, a seasoned tech expert with over 25 years of experience, including stints as YouTube’s chief product officer and chief technology officer, outlined his vision for Grammarly in a recent blog post:
Imagine if the Assistant not only gave amazing suggestions and refinements based on the writing it sees today but also had permission-aware connections into all of your other systems (from your email to docs to CRM to project trackers and more).
A New Era of Productivity
Coda’s core product, Coda Docs, will be upgraded with Grammarly’s AI Assistant. Mehrotra envisions a future where the two companies’ offerings are seamlessly integrated, providing users with an unparalleled level of productivity:
In the longer term, we plan to weave the best of Coda and Grammarly together… It will combine your company knowledge, generative AI chat features, a full productivity suite, and hundreds of agents to help you work smarter. We aim to redefine productivity for the AI era.
A Valuation Milestone
Grammarly, founded in 2009, boasts an impressive 40 million active users and is valued at $13 billion. Coda, on the other hand, was valued at $1.4 billion following its Series D raise in 2021. The acquisition marks a significant milestone for both companies and solidifies Grammarly’s position as a leader in the AI-powered productivity space.
Competing with the Best
As AI assistants become increasingly accessible, Grammarly’s acquisition of Coda will help it compete more effectively with other companies developing innovative AI tools for writing and productivity. The fusion of Grammarly and Coda’s technologies has the potential to revolutionize the way people work, making them better equipped to tackle complex tasks and projects.
A Bright Future Ahead
The integration of Coda’s products and services into Grammarly will undoubtedly have a profound impact on the company’s offerings and user experience. As Mehrotra and his team work tirelessly to merge the best of both worlds, one thing is clear – the future of productivity has never looked brighter.
Key Players
- Shishir Mehrotra: Coda’s CEO and co-founder; new CEO of Grammarly
- Rahul Roy-Chowdhury: Grammarly’s current CEO; stepping down from his role
- Aisha Malik: Consumer news reporter at TechCrunch
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