Snapchat Settles With Ousted Co-Founder

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After a long legal battle, Snapchat has come to a settlement with Reggie Brown, who claimed he was a third co-founder of the wildly successful company. “His suit alleged that he had been a third co-founder alongside CEO Evan Spiegel and Bobby Murphy, the technology chief, and that they had kicked him out one month before the photo-sharing app launched in July 2011″. Spiegel and Murphy recently admitted that they did not come up with the idea for Snapchat on their own, and Brown was involved in the process. The company is now valued at $10 Billion, when Brown filed the lawsuit in February 2013 it was valued at $70 million. The terms of the settlement have not been released.

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