These days, young people much prefer searching through their phone to meet people instead of actual face to face conversation. Technology has transformed the dating world, led by apps such as Tinder. Users can swipe right on anyone in their area they might be interested in meeting up with for a date. Valued at over $1.3B in 2015 with a ceiling of over $3B based of downloads and subscriptions, there is no doubt that Tinder was a home run for the co-founders. However, much like dating these days, there is not always smooth sailing. In a new lawsuit, the original co-founders are suing the current owners, claiming they inflated the valuation and seeking over $2B in damages. Continue reading
The latest food lawsuit gives new meaning to the phrase “let the chips fall where they may”. Frito-Lay, the famous American snack distributor, has recently lost a legal battle against a smaller competitor involving their “Scoops!” tortilla chips. Medallion Foods, a private-label food subsidiary of Ralcorp Holdings, won the jury’s favor over their own brand of snacks that allow you to easily scoop up salsa, guacamole, or dip. Frito had been seeking $4.5 million worth of damages from the St. Louis company, claiming that their version of the scoop-able chip was simply a rip-off of their famous “Scoops!”. A U.S. district court in Dallas came to the decision in late winter, surprising many of those who assumed Frito-Lay had the inside track on a settlement. Read more
The latest legal battle in social media could be a pretty sharp one. The popular photo-sharing network Pinterest is being sued by a man claiming that a potential investor stole his ideas. Theodore Schroeder of Ocean City, NJ cites that he met with several people while attempting to expand on his idea of a “board”-related social media site, called RendezVoo. One of these venture capitalists was Brian Cohen, who eventually went on to make a deal with Pinterest which included, Schroeder claims, his own intellectual property. Mr. Schroeder is seeking monetary compensation upwards of $75,000, stating that it took time, money, and other resources for him to continue his attempts to build RendezVoo. Pinterest has countered saying the lawsuit, filed right around the holidays, is “baseless”. Read more
You might think twice before uploading your next picture. There is a class-action lawsuit has been filed against Instagram in regards to their newly updated Terms of Service. The photo-sharing company recently announced a change in their TOS that, in some eyes, relinquishes their users’ ownership of personal photographs they chose to upload. In theory, the Facebook-owned company would be able to use any added pictures and images to promote their own brand. The civil suit, based out of Northern California, contends that the pictures’ rights should be retained by the photographer and technically do not belong to Instagram. These proposed changes are scheduled to take effect early in 2013 and include the company’s advertising access to any personal information given by the end user.
Como se dice “Yahoo” en Espanol? In a recent lawsuit between Yahoo and Mexico’s version of the Yellow Pages, Yahoo has been accused of various counts relating to breach of contract. A judge in Mexico City has brought down a $2.7 billion judgment on the internet corporation. Worldwide Directories and Ideas Interactivas claim that they have been losing profits due to Yahoo and Yahoo de Mexico’s regular business practices. The details of the lawsuit have not become public information; reports out of their headquarters in Sunnyvale, California state that Yahoo does not believe the decision to be final. Read more