On June 30, according to the Science and Technology Innovation Board Daily, Kimi's recent financing round, which valued the company at $20 billion, has been completed, and a new financing round has been initiated, raising the pre-investment valuation to $31.5 billion. According to sources close to Kimi, the company disclosed its latest revenue data during this financing communication: by mid-June, the ARR (Annual Recurring Revenue) surpassed $300 million. The revenue growth in this round is primarily driven by increased developer usage and API revenue resulting from model iterations. Currently, API revenue accounts for over 70% of Kimi's total revenue and continues to rise. Kimi's revenue curve is beginning to show characteristics of the early commercialization phase seen in Anthropic: increased developer engagement, a higher proportion of API revenue, growth in overseas paying users, and a price structure uplift driven by model capability iterations.
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Kimi's Valuation Rises to $31.5 Billion with ARR Exceeding $300 Million, Revenue Curve Shows Early Signs of Anthropic
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