Overview
- Snap announced on Thursday that it is carving out its internal generative AI video team into a new company called Dotmo.
- Under the deal Snap will license technology to Dotmo, take a large equity stake, and will not directly fund the startup.
- Bobby Murphy, Snap's chief technology officer, is reported to be the lead personal investor in Dotmo while remaining full-time at Snap.
- The initial Dotmo staff are said to be current Snap employees leaving to build AI models for interactive gaming and video experiences.
- Coverage includes a verification dispute because at least one outlet reported it could not independently confirm Dotmo's existence, and the move follows prior Snap spin-offs driven by the high compute costs of video generation.