Behind Builder.ai’s Collapse, Cost Of 12-Hour Workday & More

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Behind The Collapse Of Builder.ai 

Once backed by giants like Microsoft and QIA, Builder.ai’s horizons look bleak. The no-code AI platform is grappling with insolvency proceedings amid allegations of faking its tech, inflating sales and round-tripping of funds. 

Tracing A Unicorn’s Fall: Having raised $450 Mn+ over its lifetime, Builder.Ai fell prey to weak internal controls and lapses on the tech front. The final blow came earlier this year, when a creditor, alleging breach of loan covenants, restricted access to nearly $40 Mn in debt…



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Behind Builder.ai’s Collapse, Cost Of 12-Hour Workday & More


Behind The Collapse Of Builder.ai 

Once backed by giants like Microsoft and QIA, Builder.ai’s horizons look bleak. The no-code AI platform is grappling with insolvency proceedings amid allegations of faking its tech, inflating sales and round-tripping of funds. 

Tracing A Unicorn’s Fall: Having raised $450 Mn+ over its lifetime, Builder.Ai fell prey to weak internal controls and lapses on the tech front. The final blow came earlier this year, when a creditor, alleging breach of loan covenants, restricted access to nearly $40 Mn in debt…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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