SAN FRANCISCO: The mobile application Snapchat became a social media star with messages that vanish after viewing, making co-founders Evan Spiegel and Bobby Murphy among the youngest billionaires on the planet. Founding frictionIf Spiegel is the public face of Snap, Robert “Bobby” Murphy may well be considered its brain. Snap paid US$157.4mil (RM700.43mil) in 2014 to an unidentified “individual” to settle a legal dispute over intellectual property issues, the filing said. That payout came the year after Spiegel and Murphy rejected a US$3bil (RM13.35bil) offer from leading social network Facebook to buy Snapchat. Following a Silicon Valley trend, going public will not reduce the two co-founders’ control over the company.

Source: The Star March 02, 2017 05:11 UTC