Hm. Would be interesting to see the finance spreadsheets for this. Typically the B-round guys are looking for something approaching a 10x return. Can anyone justify OpenRouter being worth $1.1Bn? That seems really high for a “management”/man-in-the-middle play. But sure, AI and all. But I’m old enough to remember when every dot-com was a billion dollar valuation, too.
The play is the same as it always was, I assume: your data is the long term product.
Well yeah if they route most of the worlds tokens easily. What if we get to a point where the 5% is paid by the supplier and they take over more of the infra /routing side that they do. Lots of ways it could be a 10B company.