Sama begins winding down and liquidating assets
AI · First reported 9 Nov, 16:37 · Updated 17:31
The AI data-annotation firm Sama is winding down and liquidating assets, according to a creditor letter that cites falling revenue, competition and the burden of litigation. An unaudited balance sheet showed about $1 million in assets and $17 million in liabilities as of October. The report also details ongoing Kenyan labor lawsuits and privacy claims that were dropped against Sama in August.
- A Nov. 6 letter to creditors says Sama is winding down and liquidating its assets, citing declining revenue, increased competition and class-action litigation.
- An unaudited balance sheet showed about $1 million in assets and $17 million in liabilities as of October.
- Sama and Meta face labor-related lawsuits in Kenya; plaintiffs dropped their proposed privacy claims against Sama in August.
Summary written by Lux AI from 2 articles
Key facts
- Creditor letter date
- Nov. 6
- Assets and liabilities
- About $1 million in assets and $17 million in liabilities as of October
- Former moderator lawsuit
- Daniel Motaung sued Sama and Meta in 2022
- Privacy claims against Sama
- Plaintiffs voluntarily dropped them in August
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Background
- An earlier report said JPMorgan named Meta and Amazon as preferred internet stocks, citing Meta’s advertising gains. [585e9835-650f-405d-a7ae-65e68cee43b3]
- Another earlier report said JPMorgan added Meta and Amazon to its internet-stock focus list, pointing to Meta’s advertising growth. [2622ccca-dca1-42e6-aafa-db3c02ef27eb]
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