When Allan Beechinor and Niamh Parker spoke to the Business Post in January, their confidence in Altada was clear. But according to senior sources and internal emails, the AI firm has implemented severe cost-saving measures in recent weeks.
When Allan Beechinor and Niamh Parker spoke to the Business Post in January, their confidence in Altada was clear.
Having just raised €11.5 million to fund the expansion of their Cork-based artificial intelligence firm, the husband-and-wife team mused about how quickly they would achieve a billion-dollar valuation and so-called unicorn status. “Some of the nicknames we’ve heard are ‘unicork’ or ‘soon-icorn’. It’s exciting to know that’s coming,” Beechinor said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sinn Féin PRSI proposal could double current rate paid by businessesSeen & Heard: retailars call for action on energy, Altada’s unicorn bid in question and housing delivery threatened by water and electricity shortages
Read more »
Altada’s unicorn bid in question as AI firm faces ‘significant financial challenges’Altada, the Cork-based tech company that expected to be valued at $1bn this year, has furloughed a number of its employees, with the founders admitting that the firm is “at a turning point” and facing “significant financial challenges”.
Read more »
Larger than life exhibit on display in BelfastWorks by an internationally acclaimed sculptor are turning heads in Belfast.
Read more »
Jurgen Klopp admits Liverpool’s season-opening draw at Fulham felt like a defeatThe Reds had to come from behind twice to salvage a point at Craven Cottage.
Read more »
Arsenal sink Crystal Palace after Gabriel Martinelli gives them head startMarc Guéhi’s late own goal seals the points as new signings from Manchester City impress
Read more »
GAA likely can't offer Ukrainian refugees accommodation until after winterThe GAA has said it likely can’t offer Ukrainian refugees accommodation spaces until after winter due to demand and the commencement of the club championship season. GAA UkraineRussiaWar
Read more »