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September 12, 2014

Snapchat settles dispute with ousted co-founder Reggie Brown

According to reports, Brown was seeking more than $1bn from Snapchat.

By CBR Staff Writer

Vanishing messaging firm Snapchat settled its dispute with ousted co-founder Frank Reginald ("Reggie") Brown, ending the year and half old lawsuit.

Snapchat CEO Evan Spiegel, and CTO Robert Murphy said in a statement that they have settled their dispute with Brown on ‘agreeable terms’ without disclosing the terms of settlement.

Now the statement has acknowledged the role of Reggie Brown saying that he originally came up with the idea of creating an application for sending disappearing picture messages.

It has also conceded that Brown had collaborated with Spiegel and Murphy on the development of Snapchat during its early and most formative days.

Spiegel said: "We are pleased that we have been able to resolve this matter in a manner that is satisfactory to Mr. Brown and the Company.

"We acknowledge Reggie’s contribution to the creation of Snapchat and appreciate his work in getting the application off the ground."

The settlement ends the lawsuit filed by Brown in the Superior Court of Los Angeles, US claiming that he was the original brain behind the disappearing photos which he had shared with Spiegel and Bobby Murphy, when they were studying at Stanford University.

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Brown had also alleged that he was unfairly ousted out of the company depriving him of any "participation, profit and interest" in the company.

In 2013 Spiegel maintained that, "We are aware of the allegations, believe them to be utterly devoid of merit, and will vigorously defend ourselves against this frivolous suit."

The company behind the app had raised $60m recently and now the company is said to be worth $10bn.

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