We offer our view of Replit because it is part of the total ARK Venture Fund portfolio. To see the most updated portfolio, please click here.
Replit is a web-based development platform that enables users to collaborate on writing, running, and sharing code in various programming languages. Its community of millions of developers already use the service for team collaboration, code and comment sharing, and version tracking.
In our view, coding is the next frontier for collaborative tools, just as Google Docs and Figma have been for writing and design, and Replit’s architecture, language support, and community put it in a strong position to lead the move towards collaborative software development.
Artificial Intelligence appears to be transforming the nature of software development, writ large. Replit’s Ghostwriter AI coding assistant is at the forefront of this trend, its data flywheel leading to rapid performance increases that should differentiate it from the competition. We estimate that the tool could contribute significantly to a ~10x increase the productivity of software engineers by 2030.
Based in San Francisco, Replit was co-founded in 2016 by designer Haya Odehand and programmers Faris Masad and Amjad Masad. Amjad is a former Facebook software engineer who now serves as Replit’s CEO. To date, the company has raised over $100 million from investors including Coatue, a16z, YCombinator, and Contrary Capital.
Disclosures
We offer our view of Replit because it is part of the total ARK Venture Fund portfolio. To see the most updated portfolio, please click here. Holdings subject to change. Not a recommendation to buy, sell, or hold any specific security.
ARK Venture Fund is a closed-end interval fund. The fund is considered illiquid and there is no secondary market for investors to sell their shares.
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