Facebook may be synonymous with social networking these days. But just a few years ago, wunderkind Mark Zuckerberg was a student at Harvard, where the founders of ConnectU say he stole their idea for a web site where students could connect with one another. The two companies have been fighting things ou tin the courts for a while now, and today the New York Times reports that Facebook is "finalizing a settlement with the founders of ConnectU."Neither Facebook nor ConnectU have issued statements regarding the rumored settlement, and it's not clear what the terms of the settlement are. But Facebook has apparently dropped its countersuit against ConnectU.
We're fairly confident that Facebook with its pockets (and swimming pools) lined with money and its corporate lawyers could have crushed ConnectU in court. But the settlement helps keep the ordeal out of the public eye and could help protect Mark Zuckerberg's ego. Parts of his diary have already been published as a result of the legal action.
Reader Comments (Page 1 of 1)
4-07-2008 @ 11:40AM
keeves said...
"Facebook with its pockets (and swimming pools) lined with money..."
i mite be wrong on this, but i think Facebook made something like a $50million loss last year. (from what i remember it was roughly $150million revenue, and $200million operating cost)
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4-07-2008 @ 12:48PM
Tom said...
The link provided for "parts of his diary" also has an operating costs sheet for 2005, which shows a $5million net gain