Pinterest early investor being sued by former partner
It's almost a rite of passage for any new startup looking to make its bones in the real world—being sued for stealing the idea you are looking to get rich on from someone else that says that they should be the one's getting rich. In the case of Pinterest it’s all a matter of welcome to the club buddy.
You had to know this was coming.
After all if Zuckerberg can be sued continuously for supposedly stealing Facebook for any number of people then it shouldn't come as any surprise as Pinterest, the next hottest service next to Facebook, is suddenly in the news for one of its early investors being sued by an ex-partner for stealing the "idea" of Pinterest and giving it to the young founders.
This is what is being alleged by Theodore F. Schroeder of Ocean City, N.J., in a lawsuit that was filed yesterday in New York where he accuses Pinterest early investor Brian Cohen; and the founders, of basically stealing ideas that Schroeder had had when he and Cohen worked together in 2007 and 2008 on a project called Rendezvoo, and a later pivot Skoopwire, and gave those ideas to the young founders of Pinterest.
Parts of Schroeder’s argument are two key elements: the idea of "Boards" for posting content and the idea of "infinite scrolling". He also mentions that fact that the color scheme used by Pinterest is similar to the one they had for Rendezvoo because it was attractive to women. Schroeder also maintains that Cohen who was serving as CEO and chairman of the company pushed the team away from the Pinterest like ideas they had for Rendezvoo.
It was after Cohen and Schroeder had a falling out over equity and roles that Cohen made his "Faustian deal" (as Schroeder phrases it) with the founders of Pinterest and provided them with Schroeder's ideas and applications.
Another start-up, another lawsuit. Welcome to the tech world guys.
via All Things D