| Founded | 2018 |
|---|---|
| Closed | 2023 |
| Country | USA |
| Sector | Ecommerce |
| Total raised | ~$38M USD |
| Collapse type | Fraud Explosion |
| Founder | Albert Saniger |
Nate
"The AI shopping assistant that raised $38M claiming its AI automated purchases — then journalists discovered human workers in the Philippines were doing it manually"
Sudden collapse triggered by fraud exposure
Key Events Timeline
Nate was founded in 2018 in New York by Albert Saniger with the pitch that its artificial intelligence could automate the checkout process across any e-commerce website — eliminating the need for customers to type their payment information, address, and personal details every time they shopped at a new store.
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