Under the agreement, we agreed to pay the individual a total of $157.5 million and such amounts were recorded in 2014. “In September 2014, the parties entered into a settlement agreement that resolved all claims among the parties. “In February 2013, an individual filed an action against us, our predecessor entity and two of our officers in Los Angeles Superior Court, alleging that we were using certain intellectual property that the individual jointly owned with our founders,” the S-1 notes. The dates and details match up with what we already knew, though:

The S-1, in a section about ongoing and settled lawsuits, does not mention Brown by name, and certainly does not refer to him as a co-founder of the company - that was something Brown claimed but the other two denied. The financial terms of the deal between Snapchat and Brown were not disclosed when the settlement was first announced. S-1 filing today, unveiled as a first crucial step in the startup’s bid to go public on the NYSE, which is expected to happen in early March, according to our sources. The details were made public for the first time in Snapchat’s parent Snap Inc. Ousted Snapchat early employee Reggie Brown was paid $157.5 million in a settlement in September 2014 to close off a 2013 lawsuit he had brought against other co-founders Evan Spiegel and Bobby Murphy, alleging that they had taken his original idea and run with it, pushing him out of the company without compensation in the process.

Who is the creator of snapchat