OpenAI employees are poised for a potential windfall as the company reportedly plans an IPO later this year, with average stock-based compensation reaching a staggering $1.5 million per employee in 2025, according to Fortune. This unprecedented level of equity sharing, the highest of any major tech startup in recent history, could turn thousands of employees into multimillionaires if the IPO is successful.
The high compensation comes as OpenAI, valued at $83 billion in its latest funding round, prepares for a public offering. This valuation places the company among the most valuable private firms ever, according to the source. The Wall Street Journal reported the $1.5 million average stock-based compensation, highlighting the company's commitment to employee equity. The next closest example of such high compensation was when Google went public in the early 2000s, with an average stock compensation of about a quarter of a million dollars, according to Fortune.
In other tech news, Google's Gemini app now features AI-powered music generation, leveraging DeepMind's Lyria 3 model to create tracks from text prompts, including style and tempo controls, according to TechCrunch. This beta feature allows users to generate songs and expand the Dream Track tool for YouTube creators globally.
Snap's subscription service, Snapchat+, has achieved a $1 billion annualized revenue run rate, fueled by over 25 million subscribers, also according to TechCrunch. Launched in 2022, the subscription model, offering exclusive features for $3.99 monthly, has expanded with additional tiers, including ad-free and premium storage options.
Additionally, Kana, a new marketing AI startup, emerged from stealth with $15 million in seed funding, aiming to streamline marketing operations with AI agents for data analysis, campaign management, and customer engagement, as reported by TechCrunch. Founded by industry veterans, Kana leverages their extensive experience to offer a comprehensive suite of AI-powered tools.
In entertainment, CBS and Zynga are teaming up to bring Survivor into the hands of fans with a multi-title mobile game partnership tied to the debut of the show's landmark 50th season, according to Variety. The collaboration marks the first time in the franchise's 25-year history that Survivor will be integrated into mobile games, rolling out themed events and gameplay across several Zynga titles.
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