It is more often than not said that the instance of an act is of more importance. Snapchat owners did something similar when Apple was busy launching its next iPhone. It was on Tuesday during the event, when Snapchat owners made the announcement of a settled lawsuit with its former colleague over the original rights on the application. According to the statements given by the Chief Executive Officer and the Chief Technology Officer, the Snapchat team has finally settled the one and a half-year long tussle with Frank Reginald Brown IV.
In reality, it was actually Mr. Brown, who came up with the idea of an instant messenger which would destroy the messages after the session is over. It was the spring of the year 2011 when Brown came up with the idea while attending the Sanford Bridge University. Snapchat which was started back in 2011 by having a present net worth of $10 billion.
According to the media experts, the owners of Snapchat have found out a perfect time to declare the news such that not a lot of attention is diverted towards the issue. In the past, Sanpchat had to go through certain critical stages owing to certain security related reasons as well as on the issue of the right of the application.
None of the parties have revealed any statement in relation to the terms and condition of the settlement. Although the exact terms have been kept secret, the Snapchat officials said that they have given Mr. Brown the credit for being the creator of the concept of Snapchat. Snapchat is one of the most downloaded social messaging application.
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