Posted 1/16/2024, 10:28:37 AM
Goodnotes Acquires AI Video Summary Startup Dropthebit, Eyes Productivity Market Beyond Education
- Goodnotes acquires Dropthebit, a South Korean AI video summary startup, to move beyond the education sector into productivity tools for professionals
- Dropthebit founded in 2020, raised $1M, and developed meeting summarization tool Traw which is shutting down after acquisition
- Goodnotes has 24M monthly active users currently focused on digital notebooks for students; now expanding into productivity with acquisition
- Goodnotes will integrate Traw features like video/audio recording, transcription, and AI-powered Q&A to become "paperless digital notebook"
- Goodnotes invested in digital stationery startup WeBudding in 2023 but has no plans to fundraise, wanting flexibility to focus on product experience