According to The Information, the former CEO of Twitter is developing an AI firm and has raised roughly $30 million for it.
Ever since Elon Musk forced Parag Agrawal to resign, he has avoided public life.
However, The Information stated, citing anonymous sources, that it seems he has been working on a firm that makes software for LLM developers.
According to the article, the investment round was led by Khosla Ventures, with participation from venture capital firms Index Ventures and First Round Capital.
From November 2021 to October 2022, when Musk sacked him, Agrawal served as Twitter’s CEO.
After a spectacular series of events, Musk’s $44 billion takeover of Twitter—now known as X—was consummated on October 27. In January 2022, Musk began purchasing Twitter stock, and by April, he held a 9.2% interest, making him the company’s largest shareholder.
Agrawal announced via Twitter that month that Musk will be joining the board following a meeting with Bret Taylor, the former chair of Twitter and CEO of Tesla. But shortly after, Agrawal reversed himself and declared that Musk would not be joining the board in response to his tweet asking “Is Twitter dying?”
When Twitter agreed to buy Musk in April for $54.20 per share, Musk attempted to put the acquisition “on hold” until the company provided him with additional information regarding the quantity of bots using the network.
Musk attempted to end the agreement in July by sending a letter of termination to Twitter, alleging that the company had concealed or manipulated data regarding the quantity of bots.
In an attempt to make Musk finish the transaction, Twitter sued him in July 2022, claiming he was “refusing to honor his obligations.” Musk filed a countersuit, alleging that the business purposefully misled investors about its future prospects.
By October 4, Twitter received a letter from Musk’s attorneys renewing the initial offer. After the deal was finalized on October 27, Musk fired Agrawal, along with former Chief Financial Officer Ned Segal and former Chief Legal Officer Vijaya Gadde.
When Business Insider reached out to Agrawal for comment outside of regular business hours, he did not answer right away.
