Apple acquires AI Voice App startup Pullstring

Apple has acquired San-Francisco based startup Pullstring that enables the design and publishing of voice apps, according to a latest report. This purchase could help Apple's Siri compete better with Alexa.  Pullstring was founded in 2011 by a group of former Pixar executives and was originally used to power interactive voice apps for toys. Later on, it broadened its approach with the introduction of IoT products like Amazon Echo and Google Assistant. The company raised around $44 million in venture capital, from firms like CRV, Greylock, True Ventures, Khosla Ventures, and First Round Capital. According to PitchBook, the company's most recent post-money valuation was just around $160 million. Apple's upfront deal value is said to be around $30 million, plus around $10 million in potential earn-outs for management, this would also include CEO Oren Jacob, who once served as Pixar's CTO. Digital Assistant is seen as one of the next big things which Apple is lagging behind when compared to both Google and Amazon in terms of adoption and being open to developers. Apple did not comment on the acquisition. Source