Apple acquired Mountain View, Calif.-based AI-powered video compression startup WaveOne for an undisclosed sum.
Post the acquisition, Apple absorbed several of WaveOne's employees into various machine learning divisions.
Since its founding in 2016, WaveOne has raised $9M in venture funding.
- Notable backers of the firm include Khosla Ventures, Omega Venture Partners, Blue Ivy, Vela Partners, and Incubate Fund.
- WaveOne was founded by Lubomir Bourdev and Oren Rippel, both members of Meta's computer vision team.
- Rippel's LinkedIn profile shows he is now a machine learning engineer at Apple.
- WaveOne's hardware-agnostic video compression tools could reportedly reduce video file size by half.
