The global note-taking app Goodnotes has successfully acquired Dropthebit, the innovative developer behind the AI service ‘Traw.’   Traw  automatically organizes lectures, meetings, and video content into concise summary notes and videos. This acquisition is a significant step for Dropthebit and represents GoodNotes’ first corporate acquisition in South Korea.

Dropthebit, a startup founded in 2020 by CEO Kyumin Sim, has gained recognition for its technological prowess in automating summary notes using user data and online content. Traw Whiteboard, introduced in 2022, garnered attention for summarizing video conference content into meeting minutes notes. In 2023, Traw AI was unveiled, showcasing its ability to organize and summarize YouTube video content automatically.

Kyumin Sim, a serial entrepreneur with a successful track record, expressed enthusiasm about the partnership, stating, “Goodnotes and Dropthebit have found the perfect partner to strengthen each other’s capabilities. We can go beyond imagination by combining concerns and strategies to innovate the digital note experience with Goodnotes’ services. We will contribute to creating a digital paper service that exceeds the standard.”

Stephen Chan, CEO of Goodnotes, highlighted the potential synergy between the two companies, stating, “At our first meeting with Dropthebit, we decided that the Traw AI tool developed for audio and video recording would be suitable for Goodnotes. We will ensure that users can enjoy the best AI paper experience beyond the digital note platform.”

Goodnotes, the world’s No. 1 note-taking app service with over 24 million monthly active users globally, received accolades as the Apple App Store’s ‘iPad App of the Year’ in 2022. With the launch of Good Note 6 in August 2023, featuring the world’s first digital handwriting generation AI, the company has solidified its position as the world’s first AI-based digital paper company.

As GoodNotes collaborates with Dropbit to integrate Traw’s generative AI technology, users can anticipate a more robust and intelligent note-taking experience. While this comes as Goodnotes’ first acquisition in Korea, previously the company had made a strategic investment in Nouteacompany, the operator of the digital stationery content platform ‘WeBudding’, in September 2023.

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