London, United Kingdom – Stability AI, an open source generative AI company, announces that it has acquired Init ML, makers of the globally imaging tool Clipdrop.
The deal bolsters Stability AI’s drive to build applications using its open source generative AI models. It also provides Clipdrop’s developers with the advanced AI technology and computing power for its next generation of imaging tools.
“We are excited to integrate the latest upcoming Stability AI generative models into the Clipdrop platform, enabling our technology to be easily accessible by creators everywhere,” says Stability AI founder and CEO Emad Mostaque. “This acquisition will provide Clipdrop with the resources it needs to advance the next era of generative AI, marking a new milestone in our shared journey to democratise the power of AI and multimodal foundation models in creative workflows.”
Paris, France-based Init ML was founded in July 2020, and garnered a seed investment from AI venture capital firm Air Street Capital. Since then, its suite of imaging applications Clipdrop has amassed more than 15 million users.
Init ML will operate as a wholly-owned, independent subsidiary of Stability AI, with all of its employees remaining on board. Init ML CEO Cyril Diagne will take on the role of vice president of innovation, Clipdrop, COO Damien Henry will take on the role of senior vice president of product, Clipdrop, and CTO Jonathan Blanchet will become vice president of engineering, Clipdrop.
Clipdrop incorporates advanced machine learning research and engineering in its imaging tools, including remove background and super resolution. In addition, Clipdrop has been incorporating Stability AI’s generative AI models into its beta applications.
Init ML CEO Cyril Diagne, says “Stability AI’s support of Init ML will bolster our efforts to create world-class, simple and elegant products powered by state-of-the-art multi-modal generative AI models. I’m proud to announce that the Clipdrop team is now working with Stability AI’s researchers to bring exciting improvements to Clipdrop’s line of products and launch new ones very soon.”
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