Parag Agrawal, the former CEO of Twitter, recently launched his AI startup, Parallel Web Systems. According to the company's official website, they are developing systems that "enable advanced AI to collaborate with web technologies."
As reported by The Information, Agrawal has raised approximately $30 million for his startup, with investors including venture capital firms Khosla Ventures, Index Ventures, and First Round Capital. The company's LinkedIn page indicates that there are 10 employees besides Agrawal.
Image Source: The image is AI-generated, provided by the image licensing service Midjourney.
The official website of Parallel Web Systems predicts that AI will represent humans in using the web in the future. "Access and computation on the web will experience exponential growth," the site states, "necessitating evolution in every aspect from infrastructure to business models."
Agrawal served as Twitter's CEO from November 2021 to October 2022. He was fired by Elon Musk after Musk's acquisition of the platform. Currently, Agrawal is engaged in a legal battle with Musk, claiming that he is owed $128 million in severance pay.
The launch of Parallel Web Systems marks Agrawal's new journey in the AI field, and users can look forward to seeing his new achievements in this domain.