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Grammarly is buying productiveness startup Coda, the corporate introduced on Tuesday. As a part of the deal, Coda’s CEO and co-founder Shishir Mehrotra will grow to be the brand new CEO of Grammarly.
The monetary phrases of the deal weren’t disclosed.
The acquisition will assist flip Grammarly’s AI assistant into an “AI productiveness platform” because of the addition of Coda’s AI instruments and merchandise, the corporate says. The deal will give Grammarly prospects entry to new options, reminiscent of generative AI chat and a productiveness suite, to assist them work extra effectively.
Grammarly’s present CEO, Rahul Roy-Chowdhury, stated in an announcement that he’s stepping down from his function, and that he’ll work alongside Mehrotra as an adviser.
Mehrotra, a 25-year tech veteran who beforehand served as YouTube’s chief product officer and chief know-how officer, outlined his imaginative and prescient for Grammarly in a weblog put up: to make the AI assistant even smarter and extra useful.
“Think about if the Assistant not solely gave superb options and refinements based mostly on the writing it sees immediately but in addition had permission-aware connections into your entire different methods (out of your e mail to docs to CRM to undertaking trackers and extra),” Mehrotra wrote.
As well as, Coda’s core product, Coda Docs, can be upgraded with the Grammarly Assistant.
“In the long term, we plan to weave the very best of Coda and Grammarly collectively,” Mehrotra wrote. “It’ll mix your organization data, generative AI chat options, a full productiveness suite, and a whole lot of brokers that will help you work smarter. We goal to redefine productiveness for the AI period.”
Based in 2009, Grammarly has 40 million lively customers and is valued at $13 billion. Coda was valued at $1.4 billion following its Sequence D elevate again in 2021.
As AI assistants grow to be increasingly more accessible, Grammarly’s acquisition of Coda will assist it grow to be higher positioned to compete with corporations constructing AI instruments for writing and productiveness.
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