Parag Agrawal, the former CEO of Twitter, has unveiled his AI startup, Parallel Web Systems, marking its departure from stealth mode. The startup’s name was first revealed on Agrawal’s LinkedIn profile, although he has reportedly been working on the venture since early 2024.
Agrawal has successfully raised approximately $30 million for Parallel, as reported by The Information in January when the company’s name was still undisclosed. The startup has attracted investments from notable venture capital firms, including Khosla Ventures, Index Ventures, and First Round Capital.
The LinkedIn page for Parallel indicates that it employs a team of 10 individuals and links to an official website that describes the company’s mission to create “an API for AIs using web data.” However, details regarding its specific objectives remain sparse. The website states that Parallel is developing “systems for advanced AIs to work with the web” and suggests that AI will increasingly operate on the web’s behalf for users. It envisions a future where access to and computation on the web will expand dramatically, necessitating advancements in infrastructure and business models.
Based in Palo Alto, California, the startup lists a San Francisco address in its terms of service, which is in close proximity to the former Twitter headquarters, now rebranded as X. Records indicate that a separate entity, Shapley Inc., where Agrawal holds a corporate position, is also registered at the same location.
Agrawal’s journey from Twitter to Parallel Web Systems has drawn attention, especially following his tenure as CEO from November 2021 until October 2022, when he was dismissed by Elon Musk post-acquisition. According to Kurt Wagner’s book “Battle for the Bird,” Musk expressed concerns about an account tracking his private jet, which Agrawal declined to remove. This disagreement reportedly influenced Musk’s decision to purchase shares in Twitter, eventually leading to his acquisition of the platform for $44 billion.
In March 2023, Agrawal and three other former Twitter executives filed a lawsuit against Musk, claiming $128 million in unpaid severance. As of now, Parallel Web Systems has not responded to inquiries from Business Insider regarding further details about its operations.