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Wayra, Telefónica's corporate venture capital arm, announces its investment in Perplexity, a US-based startup that has developed an AI-powered search engine. Unlike traditional internet searches that provide links as results, Perplexity uses advanced AI to understand the intent behind queries and deliver accurate, contextualized answers to all types of questions in real time using natural language processing. Wayra valued Perplexity's unique proposition, which aims to revolutionize traditional internet search engines by allowing users to ask questions directly and receive clear and concise answers, supported by a curated selection of relevant sources. With a conversational interface, the platform offers personalization and a results list with sources, improving the accuracy and relevance of the answers provided. Wayra joins other renowned existing investors in Perplexity, such as Nvidia, Databricks, Jeff Bezos, Stanley Druckenmiller, Bessemer Venture Partners, NEA, and IVP, among others, who have also committed to Perplexity's growth and expansion. Telefónica has also reached a global commercial agreement with Perplexity to offer preferential and advantageous conditions to the operator's customers in Brazil, the United Kingdom, and Spain, while exploring expanding the agreement to other countries. Furthermore, Telefónica has launched the world's first Perplexity experience through television. It has developed an exclusive living app within the Movistar Plus+ catalog that allows platform customers with a UHD set-top box to easily interact with Perplexity. Users can now ask about any topic through the Movistar Plus+ Voice Remote by pressing the Aura button and receive real-time AI-generated text responses that will be displayed on screen and spoken aloud. Chema Alonso, Chief Digital Officer of Telefónica, states: “The investment in Perplexity AI is part of one of the new keys to Wayra’s investment strategy in leading technology markets such as the US, in companies with high growth rates, a global presence and reach, and leaders in technologies such as AI. With this commercial agreement, we are also reinforcing Telefónica’s commitment to incorporating cutting-edge technology into the company and offering our customers experiences like Perplexity’s ‘answer engine’.” Aravind Srinivas, co-founder and CEO of Perplexity, comments: “This investment from Wayra not only validates our AI-driven approach, but also opens up new possibilities.” “Exciting opportunities for global expansion. We look forward to continuing to collaborate with Telefónica to push the boundaries of what is possible in AI-powered information discovery and create transformative experiences for users around the world.”
Telefónica Innovation Day: October 17
Chema Alonso will offer more details about this strategic investment during the Innovation Day 2024, an event that will take place on October 17 at Distrito Telefónica, the company's headquarters in Madrid. Under the theme “(Un)expected connections,” the day will bring together and showcase the latest technology and innovation developed by the company around initiatives such as Telefónica Open Gateway, the digital home, the range of commercial products and services under the TU brand, as well as the key elements of its open innovation strategy. The event, which can also be followed via streaming, will feature a demo area where attendees can see and touch the latest offerings from Telefónica Digital Innovation, as well as a program of presentations with several of its top executives.