Yazhou Sun

1 day ago | news.bloomberglaw.com | Yazhou Sun |Mark Bergen

Builder.ai filed for bankruptcy in the US after creditors seized most of the cash in the British startup’s bank accounts. The company published a list of creditors in a chapter 7 case in a Delaware bankruptcy court, Builder.ai said in a filing dated June 2. Read More: Builder.ai Faked Deals With VerSe to Inflate Sales, Sources Say The company had overstated its projected 2024 sales by 300%, contributing to creditors’ decision to seize the funds, Bloomberg reported in May.

2 days ago | bloomberg.com | Yazhou Sun |Mark Bergen

Builder.ai is the largest AI company to collapse since ChatGPT’s launch started a global investment frenzy. (Bloomberg) -- Builder.ai filed for bankruptcy in the US after creditors seized most of the cash in the British startup’s bank accounts. The company published a list of creditors in a chapter 7 case in a Delaware bankruptcy court, Builder.ai said in a filing dated June 2.

2 days ago | news.bloomberglaw.com | Yazhou Sun |Mark Bergen

Builder.ai filed for bankruptcy in the US after creditors seized most of the cash in the British startup’s bank accounts. The company published a list of creditors in a chapter 7 case in a Delaware bankruptcy court, Builder.ai said in a filing dated June 2. Read More: Builder.ai Faked Deals With VerSe to Inflate Sales, Sources Say The company had overstated its projected 2024 sales by 300%, contributing to creditors’ decision to seize the funds, Bloomberg reported in May.

2 days ago | news.bloombergtax.com | Yazhou Sun |Mark Bergen

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6 days ago | news.bloomberglaw.com | Yazhou Sun |Mark Bergen |Newley Purnell

Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. Builder.ai, the artificial intelligence startup that recently announced plans to declare bankruptcy, faked business with the Indian social-media startup VerSe Innovation for years to falsely inflate its sales, according to documents reviewed by Bloomberg and people with direct knowledge of the practice.