Perplexity's $22B valuation questioned: 'glorified wrapper' outclassed by Gemini, facing 10 lawsuits
person2567 · reddit · 2026-10-30
A viral Reddit post argues Perplexity's $22B valuation is unjustified given it does nothing better than Gemini and much worse, seeking to raise its valuation from $20B to $30B. The author rebuts each claimed moat: auto-citations are better and free in Gemini web search; model choice just proves it's a wrapper; Deep Research is universal; the browser loses to Gemini built into Chrome; and competing in enterprise means fighting Microsoft.
The post notes Perplexity is battling 10 simultaneous lawsuits over alleged user throttling, copyright infringement and illegal scraping, with its own subreddit full of criticism, and predicts it will become the next Pets.com — if valuations keep rising anyway, that's proof of an AI bubble.
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