Posted 4/9/2024, 12:00:00 AM
Euan Blair's Multiverse Pivots Business Strategy, Acquires AI Firm Searchlight After Financial Struggles
- Euan Blair, son of former UK PM Tony Blair, has built a $1.7B edtech company called Multiverse that matches employers with apprentices
- Multiverse acquired Searchlight, an "Ethical AI" platform, to improve hiring practices by reducing unconscious bias
- Multiverse is pivoting from apprenticeships to focus more on upskilling those already employed to become profitable
- Multiverse lost $51M last year and laid off 44 people after overly aggressive expansion in the US
- The acquisition signals a rare instance of a UK firm buying a US startup amidst a wave of acquisitions in the opposite direction