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Facebook reportedly coughs up $65 million in settlement

by on11 February 2009


Accused of stealing site concept

A lawfirm
representing ConnectU, a small social networking site, says Facebook Inc. paid $65 million to settle a suit in which ConnectU accused Facebook of using its site concept.

ConnectU founders accused Mark Zuckerberg of stealing their site concept and using it for Facebook, and apparently got a pretty penny for it. However, these claims will be a bit hard to prove, as the settlement is supposed to be confidential.

Apparently the settlement info leaked after overzealous PR spinners included it in a newsletter, and it wasn't caught before it was too late.

More here.

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