The Year Observed
Snapchat’s Staying Power
Despite being a picture-messaging app whose missives disappear in seconds, Snapchat made clear that it wants to stay on the tech scene for years to come.
Invented by fraternity brothers at Stanford University in 2011, the start-up is still profitless, but it hasn’t lacked for buzz in 2013—or controversy. In February, Snapchat achieved the ultimate start-up status symbol by being embroiled in a lawsuit by a spurned frenemy named Reggie Brown. He claimed that founders Evan Spiegel and Bobby Murphy stole the idea from him, in a Social Network-esque lawsuit.
When Lawyers Send Letters
In a display of drama that doesn’t come as much of a surprise knowing their track record, the certified bros at Snapchat reportedly filed for a temporary restraining order against one of their cofounders, TechCrunch reports.
The disappearing photo app’s three founders‐‐Reggie Brown, Evan Spiegel and Bobby Murphy‐‐are already embroiled in a lawsuit, with Mr. Brown alleging that he came up with the idea, then collaborated with Mr. Spiegel and Mr. Murphy before the latter two locked him out of access to building the app, which was then called Picaboo.
Litigation is the newest symbol that your startup has made it, as we’re sure Mark Zuckerberg can attest. Now that Snapchat, the “sexting” app that allows users to send photos that disappear after 10 seconds, is all grown up with a fresh $13.5 million raise, it has its very own lawsuit. Betabeat has obtained Read More