This post is also available in: Danish
When photo and AI company JumpStory launched in 2019, it was with the dream of challenging the clichés of the stock photo industry. The Danish startup wanted to take on American Shutterstock and Getty Images by offering users more authentic photos without the use of filters and supermodels.
Read also: Aarhus startup has already raised 25 million, now they’re joining forces with US giants
Now, however, the Aarhus-based startup has to give up the dream as the coffers are empty.
“We had a dream to create an alternative to the many filters and fakes you see out there. We still believe that it is harmful to all of us when the representation of reality is filled with so much staging and perfection, but together with our talented employees, we must unfortunately give up living that dream further,” says co-founder Anders Thiim.
Competing against American giants from Denmark
JumpStory has most recently competed directly in the AI space with companies like Google, Microsoft, and Open AI, all of which have invested billions in generative AI. JumpStory has also developed its own AI tool called EVERYDAY.
Throughout the journey, the company has had an office in Denmark and maintained national ownership. Customers have come from all over the world, but the founders now realize that the investments have been used up.
“It’s clear that recent times have not been easy for us as founders. If you’ve tried to start and grow a business yourself, you know how much effort is put into it both in terms of hours and mentally,” says co-founder Jonathan Løw and continues:
– We’ve done as well as we could, and during the company’s lifetime there have been periods where we’ve really experienced progress and tailwinds, but of course also periods with challenges and headwinds. In the last quarter, it’s been about finding a way forward, and we can no longer see that as founders. That’s why it has come to where it is.”
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