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Apple Acquires AI Startup Tuplejump

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Apple has acquired the Indian startup Tuplejump. This is the fourth machine learning company acquired by the high-tech giant over a one year period. Tuplejump's takeover by Apple actually happened in June but went unnoticed until now, according to Bloomberg. Tuplejump founder Rohit Rai is not living in Seattle, where Turi is located and he began working for Apple in May. Among Tuplejump's dozen workers, many were already based on the U.S. west coast.


Apple quietly acquires Hyderabad based AI startup Tuplejump - The Economic Times

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HYDERABAD: Apple quietly acquired a little-known Hyderabad-based startup a few months ago for an undisclosed amount and while little is known about what Tuplejump does, the word is that this is part of the Cupertino-based giant's exploration into artificial intelligence. Known in the trade as an acqui-hire, nearly all of Tuplejump's 16 employees are in the process of becoming Apple staffers. A back-of-the-envelope calculation by an expert put the valuation at about 20 million (Rs 27 crore). "When there is a talent hire, the cost of hiring is usually calculated based on the last few years' salary," the expert said. "So, for a 16-member team, I think it would probably come up to around 4 million a year -- making this deal for something around 20 million (including for possible IP evaluation)."


Apple quietly acquires Hyderabad based AI startup Tuplejump - The Economic Times

#artificialintelligence

HYDERABAD: Apple quietly acquired a little-known Hyderabad-based startup a few months ago for an undisclosed amount and while little is known about what Tuplejump does, the word is that this is part of the Cupertino-based giant's exploration into artificial intelligence. Known in the trade as an acqui-hire, nearly all of Tuplejump's 16 employees are in the process of becoming Apple staffers. A back-of-the-envelope calculation by an expert put the valuation at about 20 million (Rs 133 crore). "When there is a talent hire, the cost of hiring is usually calculated based on the last few years' salary," the expert said. "So, for a 16-member team, I think it would probably come up to around 4 million a year -- making this deal for something around 20 million (including for possible IP evaluation)."


Hyderabad startup gets Apple moment

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Hyderabad: Hyderabad's startup eco-system has got a big boost as it has witnessed the moment long overdue: A takeover of city startup by a big multinational company. On Thursday, Apple Inc. confirmed the acquisition of a Hyderabad-based machine-learning startup Tuplejump Software Private Limited for an undisclosed amount. It will help Apple in improving its expertise in artificial intelligence. "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," Apple spokesman Colin Johnson told Bloomberg. According to industry sources, the founders of Tuplejump -- Rohit Rai and Satyaprakash Buddhavarapu -- have joined Apple after the acquisition.


Apple (AAPL) Stock Gains, Acquires India-Based Machine Learning Startup Tuplejump

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US-based tech giant Apple has now acquired Tuplejump, a Hyderabad-based machine-learning startup that had been helping companies stock, process and visualizes big data with its unique software. With the India/US based company, Apple has now acquired three machine-learning companies within a short window of two years so as to expand its reach into artificial intelligence technology. According to a report on Techcrunch, the Shares of Apple (AAPL) had been continuously increasing in the afternoon trading on Thursday following the companies agreement to purchase Tuplejump, citing sources. Two co-founders of the Machine Learning startup (founded in 2013), Rohit Rai and Satyaprakash Buddhavarapu are already reported to have joined Apple while the third co-founder, Deepak Alur has joined Anaplan that is a Cloud-based business planning platform for finance, operations, and sales. Apple had been particularly interested in an open source project titled "FiloDB" that Tuplejump was currently working on so as to efficiently apply the machine learning concepts along with analytics to complex data.