Alleged Co-Founder Of Snapchat Sues After Discovering He Has No Equity

By Jim Edwards

Frank "Reggie" Brown, the ousted third alleged founder of Snapchat, never had equity in the company even though he allegedly came up with the idea for the disappearing messages app, filed for its patent, and had some role in designing the company's logo, according to Techcrunch.

Brown is suing CEO Evan Spiegel and CTO Bobby Murphy for one third of the super-hot company, which is valued at $800 million.