AI sales startup 11x claims customers it doesn’t have for software that doesn’t work
AI sales startup 11x claims customers it doesn’t have for software that doesn’t work
AI startup 11x will rent you a bot to find you sales prospects, craft an appropriate email, and schedule an appointment to pitch a sale to them. Wow! So how’s 11x doing? It’s landed $74 million in …
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claiming to have customers you don't actually have so vocally that they have to sue you to get their names out of your mouth should be a death knell on its own, but the whole "pretending their already-expired three-month trial contract is still in effect for the full year" is a great way to find yourself pulling a Sam Bankman-Fried, except that you don't have a side company to pull $$$ from to cover your tracks
The investors read "11x, the company's, revenue is 10 million" but what they missed was that the correct reading was "11 x [the company's revenue] is 10 million", so the actual revenue is less than a million. Easy mistake to make! Better luck next time investors!