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
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.