Extract from Artificial Lawyer’s article “Facebook ‘to buy’ Allen & Overy Incubator Startup Bloomsbury AI”
US and UK media are reporting that global social network, Facebook, is ‘to buy’ one of the startups in Allen & Overy’s second cohort at its Fuse incubator. Artificial Lawyer has not been able to independently verify this – yet.
Sites such as Tech Crunch along with some mainstream press were reporting last night that the $40 billion revenue company ‘is purchasing’ London-based Bloomsbury AI, an NLP-focused startup with a Q&A capability that at present is not industry specific and has already had success working with banks.
Tech Crunch reported a price of between $23m and $30m for the AI company.