Home / Technology / AI Startup Hiro Acquired by OpenAI
AI Startup Hiro Acquired by OpenAI
14 Apr
Summary
- OpenAI has acquired personal finance startup Hiro Finance.
- Hiro's AI tool offered consumers personalized financial planning.
- Founder Ethan Bloch previously sold Digit for over $200 million.
OpenAI has acquired personal finance startup Hiro Finance, with founder Ethan Bloch announcing the deal on Monday. The terms of the acquisition were not disclosed, but given Hiro's imminent shutdown on April 20 and data deletion on May 13, the move is characterized as an acquihire. All Hiro employees are expected to join OpenAI.
Founded in 2023, Hiro launched its AI tool approximately five months ago. This tool provided consumers with AI-powered financial planning, enabling users to input financial data and explore 'what-if' scenarios to guide their financial decisions. The platform was specifically trained to handle financial calculations accurately.
This acquisition is notable as it marks OpenAI's second foray into acquiring a financial app. Bloch previously founded the neobank Digit, which was acquired by Oportun in 2021 for over $200 million. This move suggests OpenAI's strategic interest in bolstering its capabilities in business finance and potentially specialized financial planning applications.
The acquisition may also align with efforts to enhance OpenAI's appeal to users of platforms like OpenClaw, a robo stock trading agent. Bloch himself developed an OpenClaw agent named RoboBuffett. Earlier in his entrepreneurial career, Bloch also sold Flowtown, a social media SaaS tool, for $4.5 million.
