Quora, the popular question-and-answer platform, has raised $75 million in new funding led by prestigious Silicon Valley venture capital firm Andreessen Horowitz. This major cash infusion will allow Quora to accelerate development of Poe, its AI-powered chat platform.
Launched just last year, Poe already has millions of users interacting with its library of AI-generated bots. The new funding round, led by Andreessen Horowitz’s growth fund, values Quora at $500 million - lower than its previous peak valuation but impressive given the current economic climate.
Quora plans to use the new capital to spur Poe’s growth and better incentivize creators. Through its recently introduced monetization program, the company expects the majority of the $75 million to go directly into the pockets of developers building bots on the platforms. Quora aims to create a flourishing creator economy where individuals can make a living and businesses can thrive solely on Poe.
The company also wants to enable smaller AI research teams and startups to reach mainstream consumers. By providing a platform and built-in user base, Quora can help diffuse AI development across the world. Even researchers with unique models but limited resources will be able to showcase their inventions on Poe.
Quora compares Poe’s potential to the early internet browsers that accelerated adoption and progress decades ago. Its goals are twofold: 1) Make Poe the go-to destination for consumers to chat with various AI, and 2) Give developers the easiest way to build and distribute AI chatbots. Achieving these goals could drive mainstream AI adoption and unlock societal benefits from increased access to knowledge and creativity.
So while Quora continues to grow its core knowledge sharing product, which recently hit 400 million monthly visitors, it plans to double down on Poe with this new war chest. The company will pour resources into improving the product and platform. If it succeeds, Quora could pioneer a new phase of AI proliferation and creativity.