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On March 28, 2025, Perplexity cofounder and CEO Aravind Srinivas responded on Reddit to concerns about the company’s finances, product changes and reliability. He denied that the company was in financial distress or that its Auto mode was a cost-cutting scam. The allegations came from a Reddit user and were not independently confirmed in the contemporaneous coverage.
What prompted Srinivas’s response?
A Reddit user claimed Perplexity was “doing horribly financially” and had “paused all funding for marketing and partnerships,” phrases reported by Futurism. The user also alleged that product changes, including Auto mode, were intended to cut costs. These were claims in a post, not established findings about the company.
On March 28, 2025, Srinivas posted in the r/perplexity_ai subreddit, identified himself as the company’s cofounder and CEO, and addressed user concerns about Perplexity’s product. He acknowledged that rapid growth brought reliability challenges, as summarized in his Reddit post and contemporaneous coverage from Business Insider.
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How did the CEO explain Auto mode?
Srinivas described Auto mode as a way to simplify the product: the system chooses how much effort a query needs rather than requiring the user to make that choice. He rejected the claim that the feature was designed to save money, writing: “Our goal isn’t to save money and scam you in any way.” That is the CEO’s stated rationale and denial; it does not independently establish how the feature affects company costs.
What did Srinivas say about Perplexity’s finances?
He said Perplexity still had the funding it had raised and that its revenue was growing: “We have all the funding we’ve raised, and our revenue is only growing.” He also said the company had no plans to go public before 2028: “We have no plans of IPOing before 2028.” These are Srinivas’s public statements, not audited financial disclosures.
The sources reviewed do not independently establish whether marketing or partnership funding had been paused, whether Perplexity was in financial distress, or whether its internal conditions could be described as “disintegrating.” A CEO’s response is relevant evidence of what the company said, but it cannot by itself verify the company’s finances or settle the user’s allegations.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What did later reporting say about an IPO?
In June 2026, Reuters reported that Perplexity was planning to go public in 2028, according to its report. That reported plan is consistent with Srinivas’s 2025 statement that the company did not plan to IPO before 2028. It does not confirm the company’s present financial health or resolve the claims about marketing, partnerships or internal stability.
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