Once a value of more than $ 1 billion, Microsoft.ai exile from money

A spokesman for Techcrunch confirmed that Software Puilder.ai enters insolvency procedures.

The Microsoft -backed unicorn, which raised more than $ 450 million of financing, rose on its platform based on artificial intelligence, which aims to simplify the process of building applications and websites.

According to the spokesperson, Builder.ai, also known as Engineer.ai Corporation, appoints an official to manage the company’s affairs.

“Despite the tireless efforts of our current team and exploring every possible option, the company was unable to recover from historical challenges and previous decisions that put great pressure on its financial situation,” the company said in a statement. “Our instant priority is to support our employees, customers and partners during this difficult time. We will work closely with officials appointed to ensure an organized process and explore all options available for parts of business, wherever possible.”

Builder.ai has faced great leadership and financial issues in the past few months. In March, it was I mentioned The company last summer reduced its estimated revenue by 25 % for the second half of 2024. In February, the company appointed the new CEO, Manpreet Ratia.

Builder.ai rented the auditors to study their financial data, indicating that something might be behind the scenes. according to BloombergFormer employees claimed that the company had exaggerated sales numbers by more than 20 % on multiple occasions.

before engineer The brand has been largely renamed to BuilderI attracted a simple scandal. engineer He claims that he has built a platform for the development of the automatic application to a large extent, but the platform is in fact a great dependence on human engineers Wall Street Magazine.