SoundHound, the voice AI company, raises $25M after laying off 40% of staff earlier this month

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TechCrunch 1 mo ago

SoundHound, the voice AI company, raises $25M after laying off 40% of staff earlier this month - TechCrunch

Quick Summary:

AI may be getting hyped as the next billion dollar (or, much bigger) opportunity these days after that mega round for OpenAI from Microsoft, but that rising tide is not lifting all boats.

SoundHound today has a market cap of $295 million.

Tech stocks have taken a nosedive in the last year, and that’s impacting companies particularly hard when they are still effectively proving out their product-market fit.