In June 2024, MainFunc, a startup founded by the creators of Microsoft, Google, and Baidu, officially launched its inaugural product — Genspark, an innovative artificial intelligence search engine. Since then, the interplay between generative AI and traditional search has intensified, with the former capable of creating content on demand and the latter focusing on content retrieval.
To address this trend, Google incorporated the Search Grounding feature into its Gemini AI Studio, while OpenAI integrated its powerful real-time web search engine, SearchGPT, directly into its flagship chatbot, ChatGPT. However, MainFunc went further. Backed by a $60 million seed round led by Singapore's Lanchi Ventures and supported by global angel investors, MainFunc partnered with AI model developer Anthropic to introduce Genspark's "Distill Web" feature, designed to make financial reports more accessible and comprehensible.
Earlier this week, Distill Web was officially unveiled, adding a suite of new features to Genspark's AI search engine, including Genspark Finance. Overall, Distill Web allows users to effortlessly access information on over 300,000 publicly traded companies and generate meticulously crafted, readable, and engaging financial reports. These reports not only feature extensive graphics and charts but also transform complex financial data into visual, user-friendly formats, enabling a wide audience to easily grasp the information.
Whether you're interested in Apple's performance following the release of a new iPhone series or examining Google's competitive strategies in the AI sector, Distill Web can generate corresponding financial reports, automatically highlighting noteworthy anomalies and trends. It's akin to an enhanced version of Yahoo Finance or Google Finance, offering users a more convenient and intuitive way to access financial information.
Eric Jing, co-founder and CEO of MainFunc (formerly Vice President of Baidu Search and the company), stated, "In the AI era, we believe search will serve as the foundation for agent tools. People search not just to receive a query result or a list of links, but to accomplish tasks. By integrating various tools, agents can achieve more than simple searches."
Through word-of-mouth, Genspark.ai attracted over one million monthly users within just four months, establishing itself as a key player in enhancing data accessibility with AI. This latest update further underscores its broad vision to redefine how users interact with data.
Making Financial Information More Accessible
Jing revealed to the media, "Our target audience is not financial professionals, but ordinary users who wish to understand the financial data of publicly traded companies. Ultimately, we aim to assist people in handling data from private companies."
Distill Web's flagship feature, "Corporate Earnings Visualization Reports," offers a novel way to present financial information. These AI-driven visual reports convert complex company earnings into dynamic charts, clearly displaying revenue sources, costs, and profit margins. The platform currently provides over 300,000 visual reports and continues to add more content monthly.
To further enhance information accessibility, Genspark also offers free financial data packs. These downloadable PDF files provide visual analyses of financial statements for over 100 major companies, allowing users to effortlessly track revenues, expenses, and profits.
Collaborations Driving Product Integration
MainFunc asserts that Genspark surpasses other AI search tools in terms of high-quality and accurate data. Therefore, its goal is not to provide fictional or erroneous information like Google's AI summaries.
Jing said, "Unlike other companies, we not only use AI to provide tools but also create data platforms. Our approach combines AI-generated insights with traditional coding techniques to ensure the accuracy and reliability of financial data."
To build deeper trust, Genspark has implemented stringent verification measures. Jing explained, "A major barrier to trusting AI is the generation of hallucinations. To address this, we use both AI and traditional formula-based techniques to cross-verify numbers. The accuracy and reliability of data are paramount."
Ask and Receive Immediate Answers
Distill Web offers more than just static reports through Genspark. Its comprehensive corporate dashboard integrates key financial metrics from over 70,000 companies, providing users with a holistic view of performance. For users seeking deeper insights, an AI-based financial co-pilot can answer customized questions, such as comparisons with competitors or identifying growth drivers.
This user-centric approach reflects MainFunc's broader mission. Jing stated, "When ordinary users view financial data, they often don't know what questions to ask. That's why we provide pre-generated, visually rich reports. Users can browse these reports and ask follow-up questions as needed, eliminating the initial hurdle of formulating queries."
More Distinctive Features Coming Soon
Looking ahead, MainFunc plans to continue expanding its products and introduce more new features within Genspark Search. Jing told the media, "We will soon launch a new data search agent. Even when users are offline, it can autonomously gather accurate data from various sources and deliver results in minutes that would normally take hours or days."
The company's broader vision goes beyond the tools themselves, focusing on transforming data accessibility. Jing stated, "We believe that high-quality data is more valuable than the models themselves. Our mission is to build a platform that changes how people access and understand data, especially for non-professional users."
