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Just 5 years in, interactive chatbot platform Character.AI files for bankruptcy
Only five years into its journey, Character.AI, which lets users create AI characters and have conversations with them, has filed for Chapter 11 bankruptcy, following a slew of lawsuits and struggles to scale its popular platform.
AI Summary
Character.AI, a platform that enables users to build and converse with AI characters, has filed for Chapter 11 bankruptcy just five years after launching. The filing follows multiple lawsuits and difficulties scaling the service. In court documents the company disclosed assets and liabilities ranging from $50 million to $100 million. CEO Colin Adams said the firm has taken “meaningful steps” to sustain the business amid legal, regulatory and operational challenges, and that the board chose a court‑supervised sale as the best way to maximize stakeholder value.
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