Tuesday, September 27
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Tag: Australia

Sydney AI startup Search io sold for over $100m

Sydney AI startup Search io sold for over $100m

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Two Australian men have become multi-millionaires overnight after their start-up was bought for over $100 million.The Sydney-based company called Search.io, which specializes in artificial intelligence-based search, has been acquired by a French unicorn – a colloquialism used to describe a start-up valued at more than a billion dollars – called Algolia.The start-up was founded seven years ago by Hamish Ogilvy and David Howden, with its search engine used by online retailer Catch, audio company Sennheiser as well as the New South Wales government.Meanwhile, Algolia employs more than 750 people and was valued at $2.3 billion last year.Mr Ogilvy has revealed his start-up has been "stalked" by the French firm, which he says is the second-biggest search firm behind Google, after revealing on Tw...