Valued at $1.5 billion after a $445 million investment by Microsoft, the company claimed to leverage artificial intelligence to generate custom apps in 'days or weeks,' which would produce functional code that had less human involvement. 

Now they've gone cloth-off... as Bloomberg reports they had a 'fake it till you make it' strategy while having inflated 2024 revenue projections by 300%. Instead of AI, the company was actually using a fleet of more than 700 Indian engineers from social media startup VerSe Innovation for years to actually write the code. 

Requests for custom apps were based on pre-built templates and later customized through human labor to tailor the requests sent to the company - whose demos and promotional materials misrepresented the role of AI.