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As per the deal investors of Rephrase.ai will receive full cash exit. The founders will get paid in cash and Adobe stock while all the employees will be joining Adobe

Adobe takes over Bengaluru based AI startup Rephrase.ai

As per the deal investors of Rephrase.ai will receive full cash exit. The founders will get paid in cash and Adobe stock while all the employees will be joining Adobe

Software giant Adobe enters into Indian AI space by acquiring Bengaluru based Rephrase.ai. Rephrase.ai is an artificial intelligence-driven video creation platform. The company's cofounder Shivam Mangla posted on X that the acquistion has taken the company into a new era of Generative AI.
<blockquote class="twitter-tweet">
Exciting news! <a href="https://t.co/1vjINmfQE6">https://t.co/1vjINmfQE6</a> is getting acquired by a pioneering creative tech company, ushering us into the new era of Generative AI. 🚀 <a href="https://twitter.com/hashtag/GenAI?src=hash&amp;ref_src=twsrc%5Etfw">#GenAI</a> <a href="https://twitter.com/hashtag/TechAcquisition?src=hash&amp;ref_src=twsrc%5Etfw">#TechAcquisition</a> <a href="https://twitter.com/hashtag/startups?src=hash&amp;ref_src=twsrc%5Etfw">#startups</a>
&mdash; Shivam Mangla (@_shivammangla) <a href="https://twitter.com/_shivammangla/status/1727299136238837924?ref_src=twsrc%5Etfw">November 22, 2023</a></blockquote>
<h3>Adobe-Rephrase.ai deal</h3>
As per the deal, employees of Rephrase.ai will be joining Adobe and the investors will receive a full cash exit. The founders will get paid in cash and Adobe stock. This deal is the first ever agreement signed by Adobe in the generative AI and video-tooling industries. Rephrase.ai is also the first Indian startup to be acquired by Adobe.
Also Read: <a href="https://www.editorji.com/business-news/startups/sam-altman-to-return-as-openai-ceo-1700635029764">Sam Altman to return as OpenAI CEO</a>
As per a memo seen by Economic Times, Ashley Still, senior vice president and general manager of Adobe's Creative Cloud stated that Rephrase.ai's team will extend the company's generative video capabilities.&nbsp;
&ldquo;With the help of the Rephrase.ai team's experience-building text-to-video generator tools and generative AI video and audio technology, we will be able to deliver more value to our customers more quickly while also expanding our generative video capabilities within our market-leading creative applications," the memo read
Adobe's spokesperson told Moneycontrol that he software major has a proven track record of using both inorganic and organic innovation to accelerate growth. &ldquo;We are constantly searching for fresh talent and cutting-edge innovations to complement our approach and increase value for our stakeholders."

After an 11-year long run, popular Facebook game FarmVille is set to shut down on January 2, 2021.

Facebook game FarmVille set to be retired on January 2

After an 11-year long run, popular Facebook game FarmVille is set to shut down on January 2, 2021. Game developer Zynga has said that the game will no longer run on the platform, since Adobe is pulling support for Flash Player on all web browsers. Launched back in 2009, the game's payment system was turned off on November 17, along with in-app purchases.

Say goodbye to your virtual farms FB to discontinue FarmVille

After a run of 11 years, Zynga&rsquo;s FarmVille, a popular simulation game, will say goodbye to Facebook on December 31 this year. An official statement from the makers of the game says that Adobe&rsquo;s decision to stop distributing or updating flash player for all web browsers has led Facebook to withdraw its support for flash games as well, FarmVille being one of them. This farming simulation online game has been making gamers sow, plough, and harvest their crops on a virtual farm since 2009.

After a run of 11 years, Zynga&rsquo;s FarmVille, a popular simulation game, will say goodbye to Facebook on December 31 this year. An official statement from the makers of the game says that Adobe&rsquo;s decision to stop distributing or updating flash player for all web browsers has led Facebook to withdraw its support for flash games as well, FarmVille being one of them. This farming simulation online game has been making gamers sow, plough, and harvest their crops on a virtual farm since 2009.

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