Introduction:
Wordtune is an artificial intelligence (AI)-powered reading and writing companion that can propose alternate writing styles or paraphrases, understand context and meaning, and fix grammar errors. It can also generate written content based on context. AI21 Labs, an Israeli AI firm, developed it.
Wordtune Company Highlights:
| Company Name | Wordtune |
| Headquarter | Tel Aviv, Israel |
| Industry | AI Writing assistant |
| Founded | 2018 |
| Founder | Ori Goshen and Yoav Shoham |
| Website | https://www.wordtune.com/ |
Wordtune About:
An artificial intelligence-powered writing assistant is called Wordtune. By offering tips on how to make your grammar, style, and clarity better, it can make your writing better. Wordtune can also assist you in selecting the appropriate words to convey your views.
Both a browser extension and a mobile app are offered by Wordtune. Open the text or document you wish to modify, then click the Wordtune extension icon to begin using Wordtune. After that, Wordtune will analyse your writing and make suggestions for improvement. You have the option to accept or reject the suggestions or make your own edits to the text. English, French, German, Spanish, Portuguese, Italian, and Chinese translations of Wordtune are available.
Wordtune Industry:
Wordtune gives customers several options for perfecting their word choice. Wordtune provides editing recommendations when users highlight text. Users simply choose the song that best expresses their intent before deciding whether to entirely rewrite lines, making them more informal, formal, shorter, or longer. Wordtune is a writing assistant driven by cutting-edge AI technology that goes well beyond simple grammar and spelling corrections.
Wordtune Founder and Team:
Some of the top experts in artificial intelligence in the world created AI21 Labs. Ori Goshen is a former soldier in the renowned IDF 8200 tech unit and a repeat entrepreneur. Amnon Shashua is a professor at the Hebrew University and the founder and CEO of Mobileye, which went public on the NASDAQ in 2014 and was subsequently acquired by Intel.
Shoham is a computer scientist and emeritus professor at Stanford who has previously sold two businesses to Google. Leading AI academics from other countries also provide diverse services to AI21 Labs.
Wordtune Startup Story:
In October 2020, AI21 Labs published Wordtune. It was made public just as the business emerged from stealth. Wordtune is a standalone editor that can also be used with Chrome as an extension. Users of the programme can use it to translate content that is being written on websites like Gmail, Google Docs, Facebook, Twitter, and LinkedIn.
AI21 released Wordtune on November 14, 2021. Read is a standalone tool and Chrome extension powered by AI that can process vast quantities of information from webpages, documents, or YouTube videos and condense it into manageable chunks of text.
The generative-AI toolbox Wordtune Spices, developed by AI21, was made available to writers in January 2023. In tune with the user’s writing, Wordtune Spices can produce sentences or entire paragraphs. While The New York Times and other media outlets referred to Wordtune as ChatGPT’s rival, VentureBeat compared it to Grammarly, an AI-powered programme.
Wordtune Mission and Vision:
The goal of AI21 Labs is to profoundly alter the long-standing human practise of reading and writing. Despite the fact that there is promising technology available today to correct grammar and enhance sentence structure, these solutions only deal with a portion of the writing difficulty and are challenging to learn and control. In order to comprehend the context and semantics of written text, Wordtune makes use of cutting-edge AI techniques and language models.
Wordtune Name, Tagline, and Logo:
Wordtune Business Model:
The Wordtune business model is really basic and uncomplicated. The business makes money through subscription fees, advertising, and SaaS fees. Wordtune has grown quickly and emerged as a top provider of writing assistance services because to this business model.
- Recurring revenue: Since subscription fees fall under this category, Wordtune has a high degree of confidence in its ability to forecast future earnings. This makes it simpler for the business to raise financing and prepare for future expansion.
- Scalability: Wordtune’s business model is scalable, which means the company can quickly boost its revenue by enlarging its user base or offering more features for sale. For a business seeking quick growth, this makes it a good alternative.
- Low cost of customer acquisition: Wordtune has comparatively low customer acquisition expenses because it doesn’t need to invest heavily in marketing and promotion. It is therefore a wise choice for a business trying to cut costs.
Wordtune Revenue Model:
An artificial intelligence-powered writing assistant is called Wordtune. This business provides its services using a subscription-based SaaS (Software-as-a-Service) business model.
The following is the foundation of Wordtune’s business strategy:
- Revenue from subscriptions: Subscription payments are the main source of income for Wordtune. Wordtune subscribers can choose between monthly and yearly plans. Depending on the features a user needs, a subscription’s cost varies.
- Revenue from advertising is another source of income for Wordtune. When customers use Wordtune, they might encounter advertisements from outside advertisers.
- Wordtune also charges SaaS fees to companies using its services. These costs are determined by the number of users and the functionality the company need.
Wordtune Products and Services:
- Grammar checker: Wordtune can assist you in locating and fixing grammatical problems.
- Wordtune’s style checker can help you write more succinctly and clearly by making suggestions for you.
- Clarity checker: Wordtune’s suggestions for condensing complicated sentences will help you write more comprehensibly.
- Choosing the appropriate words to describe your ideas can be aided with Wordtune.
- Tone: Wordtune can assist you in changing the writing’s tone to be more formal or informal.
- Wordtune’s plagiarism detector can help you spot and stop plagiarism.
Wordtune Funding and Investors:
Wordtune is ranked 17th out of 351 currently active contestants. Four of its rivals have left, but 12 of them have funding. Approximately the course of 27 investment rounds involving 67 investors, Wordtune and its rivals have collectively raised over $429M in funding. The complete set of the competition contains no private unicorns.
Wordtune Employees:
There are no details of it.
Wordtune Challenges Faced:
It is crucial to check your work thoroughly before submitting it because it can occasionally produce mistakes.
Human editing is still necessary, even with Wordtune. It can aid in writing improvement, but it cannot take the place of a human editor’s judgement.
Wordtune can be quite pricey. Depending on the features you require, the subscription cost varies.
Wordtune Acquisitions:
In October 2020, AI21 Labs debuted Wordtune, and to date, no acquisition has taken place.
Wordtune Growth:
Since its debut in 2020, Wordtune has experienced remarkable growth. Over 1 million people are users of the company, which has raised over $100 million in funding. Although Wordtune is still a young business, it has the potential to grow into a significant force in the writing aid industry. The staff, technology, and marketing and sales efforts are all good at the organisation. Millions of individuals all across the world may turn to Wordtune as their go-to writing support tool if it can continue to expand and enhance its offerings.
Wordtune Partners:
Although there is no data, it has serviced Google, LinkedIn, Wix.com, and other websites.
Wordtune Competitors:
- Wordtune is ranked 17th out of 351 currently active contestants.
- Four of its rivals have left, but 12 of them have funding.
- Approximately the course of 27 investment rounds involving 67 investors, Wordtune and its rivals have collectively raised over $429M in funding.
- The complete set of the competition contains no private unicorns.
- QuillBot, Ginger Software, and Grammarly are the main rivals.
Wordtune Awards and Achievements:
Wordtune hasn’t received any awards.
Wordtune Future Plan:
English, French, German, Spanish, Portuguese, Italian, Chinese, and more languages are currently offered by Wordtune. In the future, the business intends to grow into other markets like Japan, Korea, and India. Wordtune’s services for writing aid are continually getting new features added. The company is developing the following features, among others:
- A plagiarism checker.
- A style guides.
- A tone meter.
- A grammar checker for different languages.
In order to provide its writing aid services to employers’ staff, Wordtune is also trying to collaborate with commercial enterprises. This can be an effective strategy for Wordtune to expand its customer base and increase sales. Wordtune’s technology is being developed continuously. To do this, new algorithms must be created and more data must be used to train the models. Because of this, Wordtune will be able to provide its users with the best writing support.
FAQs:
What does Wordtune do?
a company that offers writing assistants powered by AI. Among its capabilities are integration with copied text in the documents, a word finder, grammar and spelling corrections, a length and formality controller, and suggestions for words and phrases.
When was Wordtune founded?
It was established in 2018.
Who is the founder of Wordtune Corporation?
The founders are Yoav Shoham and Ori Goshen.
Who is the CEO of Wordtune Corporation?
Ori Goshen is current CEO.
Who are the main competitors of Wordtune?
Grammarly, Ginger Software, and QuillBot are the main rivals.
Conclusion:
Wordtune, the first AI-based writing companion that comprehends context and meaning, is the first product that AI21 Labs has officially released after going into stealth mode. Wordtune is the only deep-AI solution that can capture thoughts and suggest ways to transform them into high-quality prose, resulting in writing that is real, clear, and appealing, in contrast to other writing aids on the market today that merely offer grammar and spelling correction.
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