Ideogram (generative AI site)

Ideogram is a freemium generative artificial intelligence website founded in 2022. Ideogram uses as a text-to-image model based on the generated prompt given by the user. Ideogram is often considered a major competitor to Midjourney, a similar artificial intelligence tool.

History
Ideogram was founded in 2022 by Canadians Mohammad Norouzi, William Chan, Chitwan Saharia, and Jonathan Ho. Their goal was to develop an AI image generator with better text rendering capabilities than models then on the market.

It was first released with its 0.1 model on August 22, 2023, after gaining $16.5 million in seed funding, which itself was led by Andreessen Horowitz and Index Ventures. In the week following Ideogram's launch, at least 90,000 users were able to generate over 3 million images. Reviewers noted that the model appeared more capable of producing legible text than prominent competitors, including Midjourney.

Earnings
Ideogram raised $80 million after its 1.0 model release in 2024.