The CEO, Hoan Ton-That, stated “it is time for the next chapter in my life”. He would continue to serve on Clearview AI’s board. When questioned about the particular reasons behind his departure, he refused to reply. Forbes was the first to report the story.
Both guys have been involved in Republican politics for a long time. The MAGA ETF, which invests in companies that back Republican candidates, was introduced in 2017 by Lambert’s financial business, Point Bridge Capital. In the meantime, when Rudy Giuliani was mayor of New York City, Schwartz was one of his top advisors.
Law enforcement and government agencies purchase access to Clearview AI’s facial recognition database, which they use to identify suspects or locate individuals who have gone missing.
European data protection authorities in the Netherlands, France, and other countries have fined Clearview AI more than $100 million for violating the GDPR as of September 2024. Historically, Clearview AI has refused to pay these fines and remained recalcitrant.
Charles Johnson, a conservative investor and self-described investigative journalist, has also sued Clearview AI, claiming he was a co-founder and deserved a commission share. According to a court document, Johnson suddenly abandoned the lawsuit. However, according to Biometric Update, Clearview AI’s counterclaims in the lawsuit, which accuse Johnson of slander and violation of contract, are still pending.
As per his assertion, Clearview AI has reached its highest growth and revenue in 2024, placing it in its “strongest position ever” financially. But according to Forbes, the business has had trouble landing big federal contracts and is still losing money.
According to a statement on its website, Clearview AI, which has investors including Peter Thiel and Naval Ravikant, raised $30 million in a Series B round in 2021, which valued the firm at $130 million.
