Twenty minutes with the CEO of ElevenLabs, now reportedly valued at $22 billion
techcrunch ·
ElevenLabs, a company specializing in AI voice technology that converts text to human-like speech, is reportedly valued at $22 billion with an annual recurring revenue of $600 million. The firm serves major enterprise clients such as Klarna, Deutsche Telekom, and various governments, while also supporting creators through audiobook and dubbing services. In a recent interview, CEO Mati Staniszewski discussed the company's strategy, noting that while audio models may eventually become commoditized, significant quality differences remain for the next few years. He emphasized that ElevenLabs prioritizes market share expansion over immediate gross margins, even if it means accepting lower profitability in the short term. Regarding ethical considerations, Staniszewski advocates for disclosing when customers are interacting with AI agents, predicting that societal norms will shift toward expecting agent interactions within five years. The company faces increasing competition from former customers like Decagon, who have developed their own voice products using ElevenLabs' technology. Additionally, Staniszewski addressed data privacy and security, stating that the platform does not allow self-replicating agents and maintains strict cybersecurity precautions. Although an IPO is anticipated around 2028, the exact timing remains flexible depending on market conditions.
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