Meta to Pay Nearly $15 Billion for Scale AI Stake and Startup’s 28-Year-Old CEO
Unusual Structure Will Send the Cash to Scale’s Investors and Boost Meta’s Lagging Artificial Intelligence Efforts
Meta has agreed to take a 49% stake in data labeling firm Scale AI for $14.8 billion, two people familiar with the matter said. The unusual deal will be structured so Meta will send the cash to Scale’s existing shareholders and place the startup’s CEO, Alexandr Wang, in a top position inside Meta, the people said.
The deal, which hasn’t yet been finalized, appears to be a rich one for Scale’s shareholders, with big paydays for some of Scale’s biggest investors such as Accel, Index Ventures, Founders Fund and Greenoaks, as well as current and former employees. Scale shareholders also would maintain their existing holdings in Scale, which will now be valued at $28 billion, including the cash invested, up from $13.8 billion last year.
SHARE