The subsidized Microsoft Consistencies collapsed after finding potential sales

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Microsoft backed by Microsoft has collapsed. After an internal investigation was found evidence of potential false sales and the company has decreased revenues to only a quarter of previous estimates.

Builder.ai, one of the best technological startups funded in the United Kingdom that raised more than $ 500 million of prominent supporters such as the sovereign country box, had previously informed the employees this week that he would do so The start of insolvency procedures After its lenders, he called the default.

The lenders entered after that Builder The temporary accounts of its auditors, which show significant discounts, have provided previous revenue estimates, according to the people familiar with the matter.

These figures showed that a previous estimate of $ 220 million for 2024 was reviewed to about $ 55 million, while the total sales of the total of 2023, which was reported by $ 180 million, will be renovated to approximately $ 45 million.

These previous revenue numbers were previously submitted to the Board of Directors under the leadership of Sachin Dev Duggal, founder of Technology Start-UP. He resigned from the CEO earlier this year alongside the company’s senior revenue officials, Vargiz Sherian. However, Duggal kept the seat of the Board of Directors and the Honorary title of “Chief Wizard”.

One of the problems that preceded the exit of Duggal was that the previously seized sales remained not achieved for very long periods, according to the people familiar with the matter.

The long -time bills have sparked these concerns about recognition of the company’s revenues and led the Boilder.AI board and a new leadership to assign a law firm to conduct an internal investigation.

The results of this investigation were reported to the best leadership of the company and the other stakeholders last week, which raised serious questions about the validity of the previously recorded revenues, according to two people aware of the report. The law firm indicated that there may be a concerted effort to inflate revenues in Builder.ai.

The investigation focused on the so-called “sellers”-the medium who was claimed to sell on Builder.ai products to customers-especially some in the Middle East. The results of the investigation raised concerns about whether some of these sellers were not original, according to the two persons familiar with the report.

Builder.

This stadium had tied in the supporters of the blue chip like Microsoft, which mocked her claim that she was at the forefront of artificial intelligence boom by financing the Chatgpt Openai maker.

Times times already I mentioned In October, the company borrowed $ 50 million from the Technology Lending Companies Syndicate, which led to the bunder.ai insolvency by seizing its money earlier this month.

This union has led lenders by Viola Credit, Atempo Growth and Cadma Capital Partners, according to many familiar people, which the latter supported by the Apollo Global Management.

Builder.ai refused to comment, adding that he “focus on organized winds and maintain the value of employees.” Cadma Capital refused to comment. Duggal, Cherian and other lenders did not respond to the suspension requests.