ElevenLabs just hit a $6.6B valuation. Its CEO says the real money isn’t in voice anymore.

ElevenLabs has emerged as a leader in creating lifelike AI voices, evolving from the frustrations of two Polish engineers who were dissatisfied with poor movie dubbing. In a remarkable development, the company has reached a valuation of $6.6 billion, doubling its worth in just nine months. The recent announcement of a $100 million tender offer, spearheaded by Sequoia and ICONIQ with participation from firms like a16z, highlights the robust growth of ElevenLabs. Their technology is being utilized across various platforms, from gaming characters in Fortnite to customer service bots, positioning the company as a formidable competitor against giants like OpenAI in the realm of AI voice solutions. During a recent episode of TechCrunch’s Equity podcast, CEO Mati Staniszewski shared insights from the Disrupt event, where he made a striking prediction: he believes that voice models will soon become commoditized within a couple of years. This raises the question of how ElevenLabs plans to adapt once their technology becomes widely available. To uncover more about their strategic vision for the future, tune in to the full podcast episode, available on platforms such as Apple Podcasts, Overcast, and Spotify. Additionally, you can keep up with updates from the Equity team on X and Threads at @EquityPod.