ElevenLabs, a startup known for its voice generation tool, plans to make its shares publicly offered. The company revealed it will expand globally, and be ready for an Initial Public Offering (IPO) within the next five years.
Mati Staniszewski, chief executive officer and co-founder of ElevenLabs, shared goals to place more headquarters in Europe, Asia, and South America. The company is eyeing cities like Paris and Singapore as new sites.
ElevenLabs currently has multiple locations, including offices in New York, San Francisco, and Warsaw. Its London office serves as the company’s global and European headquarters.
ElevenLabs Use Cases
ElevenLabs is an AI platform that offers voice generation tools. Its offerings are segmented by purpose and industry, including specified tools for enterprises, media and publishing, and AI developers.
Its platform has text-to-speech, speech-to-text, voice cloning, and voice design models.
ElevenLabs’ technology has been used by multiple companies. The company recently partnered with AI video creation platform Augie to advance the creation of marketing videos using AI.
ElevenLabs was also the backbone of Time Magazine’s “Time AI” platform, which was released last year. Using ElevenLabs’ conversational AI model, the publication added spoken request capabilities. This included the ability for readers to ask questions, and receive a response in a natural language tone.
ElevenLabs has also been used by publishers The New York Times, The Washington Post, The Atlantic, and The New Yorker.
The Startup’s Expansion
The ElevenLabs app was recently brought to Android and iOS, expanding its user reach.
At the beginning of this year, the AI company tripled its valuation from 2024 to $3.3bn. ElevenLabs raised nearly $200m in funding as companies rushed to invest in the audio generation platform.
“If the market is right,” Staniszewski explained, ElevenLabs wants to create a public company “that’s going to be here for the next generation.”
The chief executive shared that the firm would consider listing in London “if the UK is able to start accelerating”.
