Wirestock raises $23M to supply creative multi-modal data to AI labs
In the past few years, creative marketplaces and platforms have realized that they are sitting on a data goldmine, and they can either use that data to develop AI models themselves or turn it into a source of revenue by licensing it to other AI labs.
Wirestock, which previously helped photographers distribute and sell their work on stock photography services like Shutterstock, has taken the latter path.
The company pivoted to being a data provider in 2023, and now supplies datasets of images, videos, design assets, and gaming and 3D content to AI labs. Wirestock said its platform has signed up more than 700,000 artists and designers who complete different tasks for data collection, similar to freelancers on platforms like Fiverr.
Mikayel Khachatryan, the company’s co-founder and CEO, said Wirestock was transparent about its shift, and allowed artists to opt out of its data supply business (in 2022, the...
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