Facebook Paid $65M to ConnectU That Alleged Zuckerberg Stole Idea

By Hercules Kataveli, B2P
Published on Wednesday February 11, 2009 at 2:20 am ET
Updated 05-2-10, 9:26 pm ET

Harvard grads Cameron and Tyler Winklevoss and Divya Narendra originally hired Mark Zuckerberg, the CEO and founder of Facebook, to program their ConnectU social network. They allege Zuckerberg stole the code to create his own social network, Facebook. The law firm Quinn Emanuel Urquhart Oilver & Hedges represented ConnectU, and now, the law firm leaked the settlement price with Facebook to have been $65 million in cash and Facebook stock options. The law firm now apparently regrets the release. Facebook did not comment.

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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