What did Crosby bid for at Weil, Gotshal & Manges?
Silicon Valley has entered the bidding for the remains of Weil, Gotshal & Manges. Crosby, a two-year-old law firm built around artificial intelligence, has made an offer to buy some of the assets of the Wall Street firm, including its trademark, its brand and some unspecified internal data. TechCrunch confirmed the bid. The Information first reported it. Crosby is also working to hire some of Weil's 1,200 lawyers.
Why is Weil, Gotshal & Manges collapsing?
Weil confirmed to The New York Times this week that it was preparing to vote on dissolution in the coming days. The once-prestigious firm had been unraveling for some time. Its presumed leadership heir turned down the role. A number of its top-producing lawyers left. A hoped-for merger with its rival, Willkie Farr & Gallagher, was shelved. The Times reported those developments and described the wind-down as the talk of the legal industry this week.
Crosby's founders say the traditional law firm model is headed for change. Rather than selling their internally developed AI technology to existing firms such as Harvey or Legora, the founders built an actual law firm that uses its own AI to provide legal services. The startup promises a speed of service that the company says was never before possible.
How much funding has Crosby raised?
The company has raised about $85 million. That total includes a $60 million Series B round in March, led by Lux and Index, with participation from seed lead Sequoia, Elad Gil, 01 Advisors and Bain Capital Ventures. Crosby came out of stealth mode in 2025 with $5.8 million in seed money.
No one has pointed to the rise of legal AI as a factor in Weil's decline. Still, the technology may play a central role in the future of the profession. Terms of the bid were not disclosed, and Crosby is not guaranteed to prevail. If it does, Weil's name and legacy would continue under an AI-first firm, a rare outcome for a storied institution that appeared headed for the history books.
Este artigo foi escrito com a assistência de IA.
News Factory APP - notícias agênticas para impulsionar seu SEO e AEO.