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Former WETA Digital CEO Prem Akkaraju, Sean Parker Join Stability AI As It Closes Funding Round
LA-based Stability AI named media and tech exec Prem Akkaraju CEO, Napster founder Sean Parker executive chair and closed an initial investment round.
Parker was also an investor and on the board of Weta Digital, the Oscar-winning visual effects house created by Peter Jackson and Fran Walsh that’s behind creatures from Gollum to King Kong. Parker, entrepreneur, philanthropist and former (and first) Facebook president, joins the board, whose members include Greycroft’s Dana Settle, Coatue’s Colin Bryant, and Akkaraju. Stable Diffusion, Stability’s flagship model, has had over 150 million downloads and played a foundational role in generating online AI-generated images.
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