On, an enterprise AI startup previously known as GameOn Technology, has terminated all of its approximately 60 staff members after discovering that $11 million in cash was missing.
The CEO of On, Alex Beckman, resigned under pressure. A letter to shareholders from other company officers revealed that only 37 cents were left in an account that was supposed to contain $11 million. As GameOn, the company had previously announced raising $35.5 million.
On’s website describes it as “the industry-leading enterprise-grade conversational AI platform, trusted by the world’s leading brands in retail, sports, and media & entertainment.”
Lil Snack & GamesBeat
GamesBeat is excited to partner with Lil Snack to offer customized games exclusively for our audience! As gamers ourselves, we believe this is an engaging way to interact through play with the GamesBeat content you already enjoy. Start playing games now!
Alex Beckman and Kalin Stanojev, chief product officer, founded the company in 2014 as GameOn Technology. But in a shareholder letter, the company’s board pressured Beckman to resign on July 1. Subsequently, the board discovered the account with supposed $11 million only had 37 cents on July 5, as reported by Stanojev and another officer Jon Layman, head of operations.
…
