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Snapchat Co-Founders Settle Ownership Dispute With Former Fraternity Brother

Snapchat co-founders Evan Spiegel and Bobby Murphy settled an ownership dispute with former Stanford fraternity brother Reggie Brown on Tuesday. Brown filed suit against Snapchat in February 2013 for an ownership stake in the company, claiming that he was responsible for the idea that sparked Snapchat’s ephemeral messaging app. The terms of the settlement were not disclosed. A recent funding commitment from VC firm Kleiner Perkins Caufield & Byers elevated Snapchat’s valuation to $10 billion last month.

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