Read AI Valued at $450 Million After $50 Million Series B Funding

David Shim, the cofounder and CEO of Read AI, a $450 million AI-assistant company based in Seattle, has made a name for himself in the tech industry. With a background that includes developing a consumer shopping portal named eccoBay.com, which was acquired by Ebay, and founding LeagueTraders Inc., Shim has a proven track record of building and scaling successful companies. His latest venture, Read AI, was inspired by his experience as the CEO of FourSquare, where he noticed the inefficiency of having unengaged employees in meetings. This led to the creation of "intelligent ghosts," AI assistants that sit in on discussions, recommend changes to meetings, and send out notes before and after the calls.

Read AI has raised over $82 million in funding, with the latest $50 million Series B funding round valuing the company at $450 million. The company has surpassed one million monthly users and recently introduced Sales AGI, a tool that helps users "vibe sell" by relying on AI to move deals forward. Shim's approach to business is not just about the numbers; he values experiences and the joy they bring. He is a self-proclaimed Diet Coke "connoisseur" and avid powerlifter, and he enjoys splurging on travel, often covering trips for his friends and family to places like Patagonia and Singapore.

Shim's lifestyle reflects his philosophy on time and experiences. He lives in the South Lake Union neighborhood of Seattle, just a 10-minute Lime scooter ride from the Read AI offices. His apartment is minimalist, reflecting his focus on work and efficiency. He wears the standard tech uniform of a hoodie, black shirt, jeans, and sneakers, which he believes makes one of your first decisions of the day the easiest. He also values simplicity in his finances, preferring cash back over points optimization and using a LimePass for his daily commute.

Shim's personal finance advice is to invest in oneself and the S&P 500 index, rather than individual stocks. He believes that the time and risk associated with picking individual stocks do not justify the slightly better returns. His approach to unwinding from his top job is to lift heavy things, with a goal of reaching the 1,000 Pound Club. He also enjoys giving to others, whether it's through charity or treating friends and family to experiences they will remember. Shim's philosophy on life and business is shaped by his experiences, including playing a Nintendo game called Genghis Khan as a child, which he believes taught him important lessons about strategy and decision-making.