OpenAI Seeks New Multi-Billion Dollar Valuation; Snapchat Launches Game for Agencies

by Hannah Dillon on 28th Sep 2023 in News

In today's ExchangeWire news digest: OpenAI reportedly in talks for a share sale that would more than triple its valuation; Snapchat reveals a new game for agency staff; and the EU's Thierry Breton warns Apple it must open up to rivals.

OpenAI looks for valuation of up to USD$90bn

ChatGPT-creator OpenAI is reportedly in talks with investors about a share sale that would value the firm at between USD$80bn (~£65.6bn) and USD$90bn (~£73.8bn). The start-up has told investors that it anticipates revenue to hit USD$1bn (~£821m) by the end of the year and that it expects to generate billions of dollars in 2024.

Snapchat launches “Agency Adventures”

Social media app Snapchat has launched an interactive 16-bit game for agencies. The game, titled "Agency Adventures", takes players through the process of building a Snapchat brief, outlining the key details of an effective campaign on the platform.

EU's Breton tells Apple to open up to competitors

Thierry Breton has told Apple CEO Tim Cook that the company must grant rivals access to its hardware and software. The EU industry chief’s warning followed a meeting with Cook in Brussels and came just weeks after Apple was listed as a “gatekeeper” under the EU’s new Digital Markets Act.