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Character.ai loses most of its staff to Disney ahead of bankruptcy sale

Original: Character.ai loses 66 of its 86 staff to Disney ahead of bankruptcy sale: Ad partners pay by ACH into one SVB account wh

Character.ai has reportedly lost 66 of its 86 employees to Disney ahead of a bankruptcy sale, leaving about 18 staff to keep the app running. Reporting says the company holds $59.4 million in cash, with advertisers paying into a single Silicon Valley Bank account and Stripe and app stores handling the rest. Observers are questioning whether the remaining team can operate the service until a buyer is found.

Why now: The mass defection to Disney and uncertainty over the company's survival make the story newsworthy.

Character.aiDisneySilicon Valley BankStripe

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• Character.ai loses 66 of its 86 staff to Disney ahead of bankruptcy sale: Ad partners pay by ACH into one SVB account while Stripe and app stores feed the rest of $59.4m in cash. Can the 18 remaining staff run the app until a sale? https:// ppc.land/character-ai-loses-66… · ppcland · 1

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