The AI company started by Parag Agarwal after he was fired from Twitter has recently raised $100 million in investment.
We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
The market valuation of Parag Agarwal, the former CEO of Twitter (now X), has reached $2 billion in 3 years.
The Wall Street Journal has reported that Parag's artificial intelligence (AI) startup has seen its market valuation soar after raising $100 million in a recent funding round. The company builds internet infrastructure for AI agents. Parag is working on the concept of an 'agentic web' that will support chatbots or software.
In 2022, billionaire Elon Musk fired Parag, along with Ned Segal and legal chief Vijaya Gadde, after buying Twitter for $44 billion. Parag was reportedly escorted out of Twitter's San Francisco headquarters by security guards.
Parag has not been seen in public for some time after leaving Twitter. At that time, he quietly launched his AI startup Parallel Web. Now, he is among the leaders of technology companies that have launched new and successful companies in the rapidly developing AI field.
Parallel Web just this week received $100 million ($100 million) in a ‘Series B’ funding round. This shows the strong confidence of investors in new AI companies launched in Silicon Valley, according to an analysis by the Wall Street Journal. Parag’s company has been invested in by renowned venture capital firms, Sequoia Capital, Kleiner Perkins, Index Ventures and Khosla Ventures.
Parag joined Twitter as an engineer in 2011 and became the chief technology officer for about a year. While he was the head of Twitter, he publicly clashed with wealthy businessman Musk over data and content moderation. Born in Rajasthan, India, Parag, 41, holds an engineering degree from the Indian Institute of Technology (IIT) and a PhD from Stanford University.
