The Cologne startup Deepl, which uses artificial intelligence to optimize language technology, apparently plans to go to the stock exchange. According to media reports, it could be ready this year.
• Startup Deep apparently strives to the stock exchange
• Informed circles speak of 2025 or 2026
• Germany’s most valuable AI startup
Deep, which competes with its mechanical translations into Google Translate and Chatgpt, has big plans. As “Sifted” reports on three sources from corporate circles, the translation startup explores concrete possibilities for an IPO. “You look at the current dynamics of the IPO market very carefully to determine when the right time came,” one of these sources is quoted.
However, there are different statements about the schedule for an IPO. While two of the sources state that the Deepl share of the IPO will be targeted in 2026, one of the sources claims that it could also be ready at the end of this year. However, these different information should not be surprised, after all, all three unanimously report that the stock market plans were still in an early stage and could therefore still change.
AI translation startup
In addition to a free variant for short text translations, Deepl also offers a paid translation solution (Deepl Pro) for companies and organizations that have to translate a lot. Among other things, his more than 100,000 commercial customers also include Deutsche Bahn. According to “Business Insider”, Deepl translates into over thirty languages in early 2025. This is significantly less than the Google translator, which translates into over 130 languages, but the German company scores with quality. In the summer, Deepl launched a new generation of its voice model, from which the Cologne residents claim that it is said to have cut better in the blind test than, for example, Google Translates or Chatgpt-4.
Shortly before, in April 2024, the company also introduced Deepl Write Pro. This is a AI writing assistant based on a large AI language model (Large Language Model or LLM), i.e. a mechanical learning model that is trained to understand and generate human language. Deepl Write Pro helps users write better texts by providing correction and improvement proposals for texts or also helping to find the right words in different situations.
The startup was founded in 2017 by Jaroslaw “Jarek” Kutylowski, who was born in Poland in 1983, but already moved to Germany with his parents as a child. In an interview with the business magazine “USP Cologne”, he described his first day of school in a sixth grade, when he was in a German school for the first time in a German school without speaking German. “Without this background of inevitable bilingualism, Deep might not exist,” said Kutylowski.
Germany’s most valuable AI company
The UNICARN recently received a financial injection of 300 million US dollars to finance the further growth in May 2024 from international investors – including Index Venteres, Iconiq Growth, Teachers’ Venture Growth, IVP, Atomico and Wil. On this occasion, the startup was rated with $ two billion. The translation service thus passed the armaments company Helsing ($ 1.8 billion) and became Germany’s most valuable AI startup.
Editor finance.net
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