Facebook settling ConnectU lawsuit
It looks like Mark Zuckerberg’s Facebook will pay off ConnectU’s creators to make a lawsuit over Facebook’s genesis go away.
Everyone’s clamming up about the topic of a settlement between Facebook and its lesser known competitor in the social networking space, ConnectU. The Bits Blog says an end to the suits and countersuits should happen within weeks.
ConnectU’s founders contended they hired Zuckerberg to work on their initial project, a Harvard dating site. Instead, they claim he worked on developing Facebook. The case didn’t look real good for Zuckerberg or the company:
The case cast doubts on Mr. Zuckerberg’s ingenuity, and discovery efforts turned up some embarrassing material — like his diary. Facebook clearly needed to make the suit go away before a widely expected initial public offering that could come as early as next year.
ConnectU still exists as a student and alumni only site for colleges and universities. Facebook has become well-known and thanks to some outside investments could be worth billions when they go IPO.
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