Disney to hire majority of bankrupt chatbot startup Character.AI's staff
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Key Takeaways
- Disney has agreed to hire the majority of Character.AI's workforce.
- The startup recently filed for bankruptcy following high costs and legal challenges.
- Former CEO Karandeep Anand is now Disney's CTO.
- The deal is a stalking horse bid and could face competing offers.
Following its recent bankruptcy filing, chatbot startup Character.AI has reached an agreement where Disney will offer jobs to the vast majority of its workforce. Legal filings indicate Disney plans to employ at least 60 workers with an estimated annual compensation of $60 million.
The agreement is currently structured as a stalking horse bid, meaning other companies could still submit higher offers for the assets. Character.AI struggled with high costs and litigation risks despite having a large and engaged user base.
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