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Co Founders

All articles tagged with #co founders

businesstechnology1 year ago

"Trump Media Sues Co-Founders of Truth Social Over Mismanagement"

Trump Media & Technology Group has filed a lawsuit against Truth Social's co-founders, Wesley Moss and Andrew Litinsky, accusing them of mismanagement and seeking to make them forfeit their stake in the company. The lawsuit alleges that the co-founders' decisions delayed the company's plans to go public and caused significant damage to the business. Trump Media's stock price has been volatile since its launch, and experts consider Truth Social's roughly $6.6 billion market cap to be overvalued, especially given the company's financial losses and low user base compared to other social media platforms.

via USA TODAY|
#businesstechnology#co-founders#lawsuit
business-legal1 year ago

"Trump Files Lawsuit Against Truth Social Co-Founders for Mismanagement"

Trump Media Technology Group, owner of Truth Social, has filed a lawsuit against the co-founders of the platform, Andy Litinsky and Wes Moss, accusing them of mismanaging the company's operations and hindering its public merger. Litinsky and Moss had previously sued Trump Media for diluting their shares in the company. The lawsuit comes after Truth Social's volatile stock performance following its SPAC deal, with speculation that the cash infusion could help Trump settle his legal bills, including a $454 million fraud case and an $83.3 million defamation suit.

via Gizmodo|
#business-legal#co-founders#lawsuit
business1 year ago

"Trump's Media Company Sues Co-Founders for Mismanagement and Seeks Share Forfeiture"

Trump Media & Technology Group has filed a lawsuit against its co-founders, Wesley Moss and Andrew Litinsky, seeking to force them to forfeit their shares and give up any claim to the company's leadership. The lawsuit alleges that the co-founders "failed spectacularly" in their leadership, made "reckless and wasteful decisions," and caused "significant damage" to the company. Moss and Litinsky, through their company United Atlantic Ventures, had previously sued Trump Media for attempting to dilute their shares. Trump Media's stock has experienced significant fluctuations since trading began, with Trump's stake currently worth more than $4 billion.

via ABC News|
#business#co-founders#lawsuit
business1 year ago

"Trump Media Sues Co-Founders for Mismanagement and Seeks to Wipe Out Their Shares"

Trump Media & Technology Group is suing its co-founders, Wesley Moss and Andrew Litinsky, accusing them of mismanagement and attempting to obstruct the company's public offering. The lawsuit seeks to prevent Moss and Litinsky from appointing board members or owning shares in the company. The co-founders claim an 8.6% share of the company, valued at approximately $601 million, based on a 2021 agreement. Trump Media alleges that Moss and Litinsky's decisions caused significant damage to the company and a decline in stock price, and also accuses DWAC founder Patrick Orlando of involvement in breaches of fiduciary duty. The lawsuit aims to recover damages and dismiss the co-founders' claim to stock.

via CNBC|
#business#co-founders#lawsuit
lawsuit1 year ago

"Trump Media Co-Founders Sue Over Stock Grab in DWAC Merger"

Co-founders of the Trump media company have filed a lawsuit alleging a "stock grab" by the former president's allies, claiming they were misled about the value of the company and their equity stakes. The lawsuit accuses Trump's associates of using "deceptive and unfair tactics" to take control of the company and enrich themselves at the expense of the co-founders.

via Financial Times|
#allegations#co-founders#lawsuit
gaming1 year ago

"Supermassive Games Co-Founders Depart After 15 Years"

The co-founders of Supermassive Games, Pete and Joe Samuels, have stepped down from the company after 15 years, with Pete citing health reasons for his departure. The new CEO, Robert Henrysson, expressed excitement about leading the studio and continuing its success. Supermassive Games is currently working on projects such as a Dead by Daylight single-player spin-off, Little Nightmares 3, and Direective 8020.

via Video Games Chronicle|
#co-founders#departure#future-projects
business2 years ago

Google's AI Push Boosts Founders' Net Worth and Raises Questions About Search Quality.

Google's co-founders, Larry Page and Sergey Brin, gained a combined $18 billion in wealth as the company unveiled a revamped search engine, driven by the artificial intelligence frenzy. Page's net worth increased by $9.4 billion to $106.9 billion, while Brin's rose $8.9 billion to $102.1 billion, marking their biggest weekly gain since February 2021.

via Bloomberg|
#ai#business#co-founders
technology2 years ago

Google DeepMind and LinkedIn co-founders unveil new chatbot.

The co-founders of Google DeepMind and LinkedIn have launched a new chatbot called Replika, which uses artificial intelligence to create a digital clone of its users. The chatbot is designed to learn from its users and provide emotional support and conversation. The co-founders hope that Replika will help people improve their mental health and wellbeing by providing a non-judgmental and supportive outlet for conversation.

via Financial Times|
#artificial-intelligence#chatbot#co-founders
business2 years ago

Lyft Co-Founders Step Down, Replaced by Former Amazon Exec as CEO.

Lyft's co-founders, Logan Green and John Zimmer, will step down from their day-to-day responsibilities at the company, which has struggled through layoffs and disappointing financial results even as Uber, its biggest rival, has strengthened. David Risher, the CEO of a nonprofit called Worldreader and a member of Lyft's board, will replace Mr. Green as chief executive. Lyft's business has been slow to rebound from the lockdowns of the early days of pandemic, as driver supply problems have caused high prices and long waits for passengers.

via The New York Times|
#business#co-founders#david-risher
business2 years ago

Lyft co-founders resign, former Amazon exec named new CEO

Lyft co-founders, CEO Logan Green and president John Zimmer, are stepping down from their roles by mid-April, to be replaced by former Amazon executive David Risher as CEO. Green and Zimmer will serve as chair and vice chair of Lyft’s board, respectively. Risher, who joined the Lyft board of directors in 2021, will take over the full leadership responsibilities for the company’s operations on April 17. The move comes as Lyft lowered its revenue expectations for Q1 2023, causing shares to tumble.

via TechCrunch|
#amazon#business#ceo
business2 years ago

Lyft founders step back as former Amazon exec takes over as CEO.

Ride-sharing company Lyft has appointed board member David Risher as its new CEO, while co-founders Logan Green and John Zimmer will step back from managing the company. The move comes as Lyft struggles with competition and a battered stock price. Green and Zimmer will retain their seats on the board but will not participate in running Lyft day-to-day.

via The Wall Street Journal|
#board-member#business#ceo