Have your teachers ever told you that grammar is important? Has grammar ever made you a billionaire?
Grammarly, the popular grammar tester, announced a $ 200 million investment last week, which not only increased the company’s value to $ 13 billion, but also made its two founders, billionaires Max Lytvyn and Alex Shevchenko, billionaires.
According to Forbes, Ukrainian-born entrepreneurs who began writing with the assistance of programmer Dmytro Lider have already gained at least $ 4 billion apiece as a result of recent investment. Grammarly has a 22 percent ownership in the two fundraisers, 2019 and 2021, according to Pitchbook statistics.
According to a third business spokeswoman, Lider, the third co-founder at the time, possessed a 1% interest, according to Forbes Ukraine, a Forbes-licensed magazine. Lytvyn and Shevchenko estimate a 35 percent stake in Grammarly and a $ 4 billion valuation for private enterprises after taking into account Forbes’ discounted estimations.
A source close to the company verified this figure. Grammarly has contested Forbes’ projections, but has been unable to demonstrate the virtues of its co-founders. “Grammarly is a private firm that does not release its ownership or disclosure data,” the company’s chief information officer, Senka Hadzimuratovic, stated in an email.
Sentence works, situated in San Francisco, was created more than a decade ago as a free sign-up tool to assist students improve their grammar and spelling. It emerged from his persistent focus on education, and later on to e-mail, and it allows the use of his artificial intelligence grammar test tool, which can be simply used to repair problems in papers and other things.