The Snapchat Lawsuit, Or How To Lose Your Best Friend Over $70 Million

One week ago, Reggie Brown filed a lawsuit alleging that he is a co-founder of Snapchat, a red-hot impermanent photo messaging app, and is entitled to an original one-third ownership stake along with co-founders Evan Spiegel and Bobby Murphy. What?s at stake? Snapchat won ?Fastest Rising Startup? at the 2012 Crunchies and recently raised $13 million at a $70 million valuation.

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