Ollie, a privacy-focused AI assistant built for families, will shut down its app on November 6, its CEO says

What happened

Ollie, a startup that set out to build an AI assistant that respected its users' privacy, is closing, TechCrunch reported Friday. The company said the shutdown will come in about a week. Its app is set to officially stop working on November 6.

How the news was shared

Co-founder and CEO Bill Lennon announced the closure in a post on X on Friday, according to TechCrunch. "I'm really proud of what we accomplished," Lennon said. He added that the team built a personal assistant with a small staff and thanked the company's employees, users, investors and supporters.

What Ollie offered

Ollie was a text-based assistant aimed at helping families stay connected and organized, TechCrunch reported. It was sold on a subscription basis. The company had planned to expand into household budgeting at some point.

Features for busy households

The app linked to a user's email and calendar. It also had built-in tools for booking appointments, planning meals and paying bills, according to TechCrunch.

Funding and privacy certification

In September, Ollie talked with TechCrunch about a $7.5 million seed round led by Khosla Ventures. TechCrunch also reported that Ollie was one of the first mainstream apps to earn SOC 2. SOC 2 is a privacy compliance standard that companies can reach through an independent audit.

Why the company says it is closing

Lennon said pressure from the fast-growing AI industry took a toll on the startup. "We got close, but ultimately couldn't keep up," he said, according to TechCrunch. He pointed to new rivals that made it harder to stand out, grow and raise money.

A crowded field

"With Muse, Instinct, and others entering the space, it became harder to stand out, grow, and raise the capital we needed to succeed," Lennon said. TechCrunch noted that the market for text-based AI assistants has exploded over the past year. It said more powerful underlying models have made these apps much more useful for daily tasks.

Privacy and profit

In its report, TechCrunch wrote that user privacy has never been a hugely profitable part of the tech industry. The outlet also said many new digital assistants create privacy challenges for the people who use them, and it pointed to Instinct as an example. Readers can follow more coverage of AI tools and companies in our AI and tech section.

What users should expect

Lennon said Ollie customers will receive instructions in the coming days on how to export their data and how to get refunds, TechCrunch reported. The report did not give further details about how refunds will be calculated or how long data will stay available after the shutdown.

What to watch next

• The Ollie app is scheduled to officially shut down on November 6.
• Customers are expected to receive instructions for exporting their data in the coming days.
• Customers are also expected to receive instructions on getting refunds in the coming days.