Builder.ai faked business with Dailyhunt parent VerSe to inflate sales: Report
Builder.ai, the AI startup which recently filed for bankruptcy, faked business with Dailyhunt parent VerSe Innovation to falsely inflate sales, reported Bloomberg. From 2021-2024, the firms allegedly engaged in 'round-tripping', a practice where firms bill each other for similar amounts to create an illusion of legitimate revenue. The documents reveal $60 million in reciprocal payments.