AI startup Builder.ai, which recently declared bankruptcy, and VerSe Innovation, the parent of dailyhunt, are under scrutiny for allegedly inflating revenue through $60 million in fabricated transactions between 2021 and 2024, as per reports.

AI startup Builder.ai, which recently declared bankruptcy, and VerSe Innovation, the parent of dailyhunt, are under scrutiny for allegedly inflating revenue through $60 million in fabricated transactions between 2021 and 2024, as per reports.

The companies reportedly billed each other for services that offset in value—raising red flags of “round-tripping” and deep concerns over financial transparency during fundraising. VerSe has denied all allegations, calling them baseless.

Read more: https://lnkd.in/d_NejEsU

By Sayan Sen

StartupScandal BuilderAI VerSeInnovation TechNews BusinessEthics

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