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iRobot, the maker of Roomba, filed for bankruptcy due to intense Chinese competition and failed regulatory approvals.

iRobot filed for bankruptcy and will be acquired by Picea Robotics, a Chinese company. Founder Colin Angle said iRobot faced rising competition from Chinese robotics firms.

The bankruptcy of robot vacuum Roomba maker iRobot represents a relatively small but high-profile casualty of years of big tech antitrust scrutiny in both the U.S. and Europe. Amazon's acquisition of the company was abandoned in early 2024 after EU regulators signaled their intent to block the deal.

She blocked Amazon's takeover, and now the Chinese will own it.

iRobot Co-Founder Helen Greiner weighs in on the American tech company's decision to file for bankruptcy, and discusses the future of robotics and the obsession with humanoid robots. She speaks with Paul Allen on "Insight with Haslinda Amin.

Shares of iRobot plummeted Monday after the Roomba robot vacuum maker announced a Chapter 11 bankruptcy filing on Sunday.

iRobot filed for bankruptcy and will be bought by Chinese manufacturer after Amazon's $1.4 billion acquisition was blocked by the FTC on antitrust grounds last year.

iRobot, the maker of the Roomba, filed for Chapter 11 bankruptcy after financial struggles. A failed $1.4 billion Amazon acquisition contributed to iRobot's financial woes.