Bill Gates has been responding to media scrutiny and condemnation over his alleged association with the infamous law offender Jeffrey Epstein. Amid the growing public scandal, the Microsoft founder’s youngest daughter, Phoebe Gates, has done the media rounds promoting her AI startup, Phia.
Phia is an AI-powered shopping venture. According to media reports, the newly launched company has secured $35 million in funding, raising its valuation to roughly $185 million.
Speaking to Opening Bid Unfiltered, the 23-year-old entrepreneur made it clear that she wanted success on her own terms and didn’t want the privileges associated with her last name to curry favor with Silicon Valley investors.
Bill Gates’ daughter Pheobe wants to make a name in the Silicon Valley startup ecosystem on meritocracy
Outside investors are taking an interest in Phia, with reports confirming that the startup raised $35 million in Series A funding. One of its founders, Phoebe, is adamant about not taking funding from her parents. In fact, she doesn’t want her last name to have any influence on the success of the product, wanting her brainchild to establish itself through meritocracy and hard work.
“I have a chip on my shoulder,” she said, adding that she wants her venture to find its footing with “no ties to my privilege or my last name.”
“The chip on my shoulder is not only proving myself but building something, you know, novel and unique that consumers actually love,” she added.
However, she did acknowledge her father’s valuable lesson in building a successful business. “From my dad, I’ve really learned that your team is the core of what you’re building. You can’t do anything without an incredible team,” she added.
The startup is designed to help users find products and compare prices across platforms. Reportedly, the shopping assistant plugs into browsers like Chrome and Safari to compare prices across a variety of retail and resale sites in real time. She had earlier told Fortune’s Most Powerful Women editor Emma Hinchliffe last year that her target audience looked for a “a young woman who’s hustling. She shops like a genius, but she doesn’t want to waste her time doing it.”
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Who is Pheobe’s business partner in this joint AI venture?
Phoebe Gates co-founded Phia with her Stanford University roommate Sophia Kianni. The idea for the consumer tool emerged while they were brainstorming several startup concepts before landing on Phia, which aligned with Gates’ interest in women’s empowerment and Kianni’s focus on sustainability. Kianni is also the founder of Climate Cardinals and is active on climate change issues.
Like Gates, Kianni has not taken money from her parents, instead relying on outside investors. The venture’s recent $35 million funding round was led by Notable Capital, with participation from Kleiner Perkins and Khosla Ventures.
Gates and Kianni are capitalizing on the growing investor interest in AI agents focused on automation. It remains to be seen if the startup takes off after the initial push by investors.
Read more: From $1M to $4.8M – Bill Gates Sells Privacy Buffer Home Beside His $130M Medina Mega-Mansion
