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> Character’s leaders told staff on Friday that investors would be bought out at a valuation of about $88 per share. That’s about 2.5 times the value of shares

• pton_xd 2y ago
  > investors would be bought out at a valuation of about $88 per share. That’s about 2.5 times the value of shares in Character’s 2023 Series A, which valued the company at $1 billion Those investors almost certainly have a liquidation preference. How much did employee shareholders get? I'd guess zero. "I am confident that the funds from the non-exclusive Google licensing agreement, together with the incredible Character.AI team, positions Character.AI for continued success in the future,” Shazeer said in a statement given to TechCrunch." That's a pretty hilarious statement from a Founder/CEO, given the circumstances.
  • fngjdflmdflg 2y ago
    >liquidation preference. How much did employee shareholders get? I'd guess zero. But they aren't filing for chapter 11? I assume all shareholders will be bought out, including the employees, and this will be paid for by Google who will license their models, presumably as a scheme to pay off of the investors as I doubt they actually need those models at all. (assuming the linked source is correct.)
• hackernewds 2y ago
  got it. so instead of employees and investors screwed, only employees are screwed..