950 is not 1, Labelbox

Dear Labelbox,

You recently published the statement: “Labelbox today announced it has been awarded a $950 million … contract by the U.S. Air Force.”

Source

This is incorrect as your share of that contract is likely about 1/1000 of that value. See, in reality, that contract is shared by at least 27 other companies as of July.

The historical precedent is 63.9% to 78.6% going to the top vendors by size. Even the massive Raytheon got only 4.4M for prior JDAC. This means the actual contract size is more likely 1 to 9.5M on the high end¹.

Surely you wouldn’t purposefully state you had 950 of something when in fact you have 1?

Please issue a retraction to clarify this.

Thank you,

Anthony