Phoebe Gates Secures $30 Million for AI Shopping Startup
Phoebe Gates, daughter of Microsoft co-founder Bill Gates, has successfully raised $30 million for her artificial intelligence shopping company, Phia. This new funding skyrockets the company’s value to $180 million.
Interestingly, while Bill Gates has not invested financially in Phia, he has shown his support in other ways. In a recent post on LinkedIn, he shared that he would be stepping in to help with customer service for the startup following its app launch. “When your daughter asks if you’d be willing to work a shift in customer service at her startup, the only right answer is yes,” he wrote, emphasizing the importance of understanding users’ needs firsthand.
Bill also expressed how he believes technology can enhance fairness and efficiency, noting that the best insights often come from interacting directly with users. Phia, which aims to revolutionize the shopping experience, was founded by Phoebe and her co-founder, Sophia Kianni. The app and browser extension help shoppers find the best prices, highlight secondhand options, and suggest more sustainable choices across various online stores.
The recent funding round has garnered attention from several high-profile backers, including Hailey Bieber, Kris Jenner, and Sheryl Sandberg. The funds will help Phia grow its intelligent shopping assistant, which promises to simplify online shopping amidst its chaos.
With the financial backing from notable investment firms like Notable Capital and Kleiner Perkins, Phia is becoming a key player in the AI market. The app has seen impressive growth, with 750,000 downloads in just eight months. Originally, the idea sprouted while Phoebe and Sophia were living in a Stanford dorm, where their first concept leaned towards a smart tampon but eventually shifted focus to fashion technology.
As they continue to innovate in the shopping space, Phoebe and Sophia are eager to tackle the future of retail with their fresh perspective.
