Tuesday, January 6, 2015

Wit.ai Acquired By Facebook

Palo Alto-based Wit.ai, a developer of natural language processing software, has been acquired by Facebook. Financial terms of the deal were not disclosed. Wit.ai was applying its software to the "Internet of Things", allowing people to control devices using natural speech. Wit.ai was venture backed by Andreessen Horowitz, Ignition Partners, NEA, A-Grade, SVAngel, Eric Hahn, Alven Capital, and TenOneTen, and had only raised around $3M in a seed funding.