connectu

Here's a message for all the tech bloggers and reporters freaking out over the alleged Associated Press bombshell that some copy-paste legerdemain led to the revelation that Facebook valued itself at $3.7 billion at the time of the ConnectU vs. Facebook court settlement:

Please, chill out! This is not news!

While it had not yet been reported that the ConnectU settlement was a reported $65 million (though since it was in cash and stock, that value may have dropped with the onset of the recession), the $3.7 billion Facebook valuation has been around since July.

The New … Read more

Talk about spilling the beans: A marketing brochure for law firm Quinn Emanuel Urquhart Oliver & Hedges, which represented would-be social network ConnectU in its much-publicized suit against Facebook, claimed that the final settlement netted the site's founders a handsome $65 million in Facebook stock and cash.

Oops.

A Law.com article dug up the brochure and its claim, and has posted a .pdf file on the Web. According to the same article, principals at the law firm now regret posting the results. Meanwhile, ConnectU remains in a fee dispute with Quinn Emanuel, a fact which came to light … Read more

The 2008 Olympics in Beijing are over for Cameron and Tyler Winklevoss, the founders of would-be Facebook rival ConnectU who earned spots on the U.S. rowing team. The identical twins ended up placing sixth overall in the men's pair event; they don't take home any medals, but it's still a more than respectable finish. To get there, the pair had to make it through two rounds of heats, a semifinal, and then the grand final; just making it to the last round is a big accomplishment.

The Winklevosses placed sixth out of the six boats in … Read more

There's been another victory on the water for ConnectU founders Cameron and Tyler Winklevoss--even as their court case against Facebook continues to peter out unfavorably.

The identical twins, representing the United States in the men's pair (M2-) event of the Olympic rowing races in Beijing, placed second in their Wednesday semifinal to advance to the grand final.

At the 500-meter mark, a quarter of the way through the race, the Winklevosses were in fifth place out of the six boats. But they powered through crews from Germany, Serbia, and Italy to cross the finish line just less than … Read more

As twins Cameron and Tyler Winklevoss power toward Wednesday's semifinal in the rowing events of the Olympics in Beijing, their longstanding court case against Facebook is winding down.

A San Jose, Calif., judge ruled late last week that ConnectU, the start-up that the brothers founded with Harvard classmate Divya Narendra, must transfer its stock to Facebook as part of the settlement acquisition by Tuesday, despite the claims on behalf of ConnectU that Facebook failed to disclose its true valuation when negotiating the terms of the settlement. The start-up's founders alleged fraud on Facebook's part, and claimed that … Read more

ConnectU founders Cameron and Tyler Winklevoss pulled through in a repechage (second-chance heat) on Monday on the Olympic rowing course in Beijing, where they're representing the United States in the men's pair event.

The identical twins, best-known in the tech world for being two-thirds of the Harvard-founded start-up that foisted an intellectual-property suit upon Facebook founder Mark Zuckerberg, had failed to immediately qualify for the semifinals in their Saturday heat. They'd placed fifth and needed a third-place finish to qualify. But the repechage offered another chance for them to earn a shot at the semifinals, which take … Read more

Cameron and Tyler Winklevoss, the identical twins who went from a legal spat with Facebook founder Mark Zuckerberg to a berth on the Olympic rowing team, didn't do so well in Beijing on Saturday. In the preliminary heat for their event, the men's pair (M2-), they placed fifth out of five boats.

In the 2000-meter course, the twins came in with a time of 7:13.64, behind the fourth-place Polish team with a time of 7:01.90. The top three places were taken by the French, Italian, and Canadian teams respectively.

They were in a tough … Read more

Cameron and Tyler Winklevoss have been in the press a lot recently for being "those guys who sued Facebook." As two of the three founders of ConnectU, they had accused Facebook founder Mark Zuckerberg of intellectual property theft long before he was Silicon Valley's youngest billionaire. Unfortunately, courts didn't tend to side with the brothers Winklevoss, largely because the dorm-room start-up didn't have formal paperwork to prove a breach of contract.

That case has been settled (though ConnectU has contested it), and the Winklevosses--a pair of six-foot, five-inch identical twins with a penchant for wearing … Read more

UPDATE:To include mention of a report that Facebook valued itself at $3.75 billion.

SAN JOSE, Calif.--What is Facebook really worth?

One of the burning questions in the technology business during the past year also played a major role in the dispute between social networks ConnectU and Facebook, according to documents obtained by CNET News.com.

Some interesting details about Facebook's valuation were revealed in partially redacted court records released Wednesday by federal district judge James Ware. The documents were a transcript of a June 23 hearing in the case, which Ware had closed to the public. … Read more