Disney to Hire Character.AI's Staff in $60 Million Deal After Chatbot Startup Files For Bankruptcy
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Disney agreed to hire at least 60 Character.AI employees in a $60 million deal after the startup filed for bankruptcy this week.
- ✓Disney’s offer covers over half the company’s workforce.
- ✓While many staff already accepted, the deal remains a stalking horse bid and could still change if others offer more.
Story at a Glance
- Category
- BUSINESS
- Reported By
- NDTV Profit
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Character.AI's bankruptcy may not leave most of its employees out of work, with Disney agreeing to offer jobs to at least 60 members of the chatbot startup's team, according to a legal filing reported by Bloomberg. The development comes just days after Character.AI filed for bankruptcy earlier this week.
The filing states that Disney's offers cover more than half of Character.AI's workforce. The combined annual salaries for these positions are estimated at $60 million, and the “vast majority” of employees who received offers have already accepted them.
Character.AI had earlier said that Disney agreed to acquire some of its assets for $20 million. The estimated annual payroll for the employees being hired is therefore three times the value of the asset deal.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
NDTV Profit
Read the full, original unfiltered story directly on the publisher's portal.