Logically AI, the London-based fact-checking startup, has filed for administration, according to reports.
Founded in 2017 in the wake of Donald Trump’s first US election win and the UK Brexit vote, Logically previously won multi-million pound public and private contracts to help combat the spread of conspiracy theories and bogus health advice online.
But the Times reports Logically struggled to stay afloat after losing contracts with tech giants Facebook and TikTok which, as part of a wider political backlash in the name of freedom of speech, have rolled back previous anti-misinformation initiatives.
Logically’s assets have been transferred to another company called Kreatur, owned by a former director and early investor in the company, Ashwin Kumaraswamy.
Kreatur tells the paper: “Kreatur Ltd has acquired Logically’s core technology, brand and key assets as part of a pre-pack administration process. The transaction ensures continuity for all customers and preserves over 40 full-time roles.”
Sifted previously revealed in February how Logically had laid off dozens of employees as part of a company-wide effort to cut costs.
“This decision was not taken lightly and we are deeply grateful for the contributions of our departing colleagues,” a Logically spokesperson said at the time.
Sifted approached Logically for comment.
Read the orginal article: https://sifted.eu/articles/logically-ai-fact-check-misinformation-trump-tiktok-meta/
