Grammarly Ukraine Founders Become Billionaires, Valuation at $13 Billion

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Grammarly Ukraine Founders Become Billionaires, Valuation at $13 Billion

26th November 2021 | Hong Kong

The founders of Grammarly Alex Shevchenko and Max Lytvyn, had became billionaires and becoming the 2nd & 3rd richest people in Ukraine with the company raising $200 million (17/11/21) with a market valuation of $13 billion.  Both Alex Shevchenko and Max Lytvyn have an estimated net worth of $4 billion each, mostly in Grammarly shares after the fund-raising round.  Grammarly is founded in 2009 based in San Francisco, and is an AI-powered online platform that fixes grammar.  The firm has received over $400 million in funding including from Baillie Gifford, funds and accounts managed by BlackRock, General Catalyst and IVP.   The richest man in Ukraine is industrial businessman Rinat Akhmetov, who is estimated to have a personal fortune of $7 billion to $8 billion.  

“ Grammarly Ukraine Founders Become Billionaires, Valuation at $13 Billion “

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Grammarly 

Max Lytvyn, Alex Shevchenko, and Dmytro Lider founded Grammarly in 2009 with the goal of helping people communicate more effectively. Focusing first on supporting students’ grammar and spelling through a subscription-based product, they soon saw the potential of how Grammarly could help in all circumstances — from professional writing to everyday correspondence. Since then, Grammarly has grown the capabilities of our writing assistance to go way beyond grammar and spelling to analyze complex aspects of language and communication. 

Today Grammarly offers an intuitive, real-time interface that’s there for people wherever they type through Grammarly for Windows and Mac, our browser extensions, mobile applications, and web editor. A free version of our assistant, introduced in 2015, ensures that anyone who needs to communicate in English has access to essential writing support. For organizations of all sizes, we rolled out our enterprise product to help teams accelerate business results through better communication. Our growth and further investment in cutting-edge language research are helped along by over $400 million in funding from Baillie Gifford, funds and accounts managed by BlackRock, General Catalyst, IVP, and others.

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