Divya Narendra – Real Founder of Facebook
Divya Narendra is the CEO and CoFounder of SumZero with Harvard classmate Aalap Mahadevia. He is co-founded Harvard connection with Harvard University classmates.
In the year 2004, Connect U filed a lawsuit against Facebook and alleged that creator Mark Zuckerberg had broken an oral contract with them. The suit further alleged that Zuckerberg had copied their idea and used the source code which was intended for the website he was hired to make.
Facebook made a countersue with respect to Social Butterfly which was a project put by the Winklevoss Chang Group which was a partnership between ConnectU and i2hub which is another campus service. It named the defendants ConnectU, Cameron Winklevoss, Tyler Winklevoss, Divya Narendra and Wayne Chang who is the founder of i2hub.
A settlement agreement for both the cases was done in February 2008 and it was valued at $65 million. It was in May 2010 that ConnectU accused Facebook of securities fraud on the stock value which was the part of the settlement and wishes to get the settlement undone. This meant the settlement value at the time was $31 million instead of $65 million.
The New York Times mentioned that Facebook shares were trading at $76 per share in the secondary marketplace the total settlement value close to $120 million.
In case the lawsuit adjusted the settlement to match the difference goes well, the value will be quadrupled to more than $466 million.
Facebook did not exhibit its valuation in this negotiation and so there is no settlement that the company is required to correct.
Divya Narendra was born and brought up in Bronx, New York. He is the eldest son of two immigrant doctors from India. Narendra scored perfect SAT and graduated from Townsend Harris High school in Flushing, Queens prior to attending Harvard University in the year 2000 from which he graduates with an A B. cum laude in maths in the year 2004.
Narendra graduated from Northwestern University school of law and the Kellogg school of management in the year 2012.
Narendra mentioned how he came up with the concept in an interview. The concept has expanded since then and SumZero is taking some steps to bring a subset of high-level investment research to the investing community.
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