An AI video company's annualized revenue just went from $20M to $700M. In a year.
Read that number again.
Higgsfield just raised $400M at a $5.4B valuation, 4x its January number. Goldman Sachs and Intel are in this round.
The Real Number
Annualized revenue: about $20M a year ago. About $700M now.
The Mix Flipped
Businesses were under a quarter of that revenue in January. They're the majority now, advertising, commercial, enterprise.
My Honest Read
Money doesn't disappear. It moves. Right now it's moving out of crew day rates and post supervisors, into a text box.
The Scale
30 million-plus users. 238 countries. The US is the largest market.
My Honest Take
The tools improving was never the real threat. The threat is the moment budgets start treating it as a line item instead of an experiment.
Where Is This Budget Line Coming From?
Ad spend? Post-production? Somewhere else?