Oct 26, 2010 (10:10 AM EDT)
Winklevoss Twins Negotiating With Zuckerberg Over Facebook
Read the Original Article at InformationWeek
Cameron and Tyler Winklevoss, the former Harvard students who have battled Facebook chief Mark Zuckerberg over the founding of the social networking company, returned to Harvard over the weekend to race in the international crew regatta on the Charles River.
Contrary to popular opinion, the twins believe their case with Facebook isn’t over yet. They told a Boston Globe reporter that they are still involved in settlement talks with Facebook. The Winklevoss twins have praised the recent “The Social Network” movie, already a contender in the upcoming Oscars competition for their portrayal. Zuckerberg’s portrayal, on the other hand, didn’t fare so well, and Zuckerberg has gone on with running Facebook.
The dispute with the Winklevoss brothers began in early 2004 when they enlisted Zuckerberg, then a Harvard sophomore, to work on their ConnectU Web site. Shortly thereafter, Zuckerberg launched his now-legendary Facebook. Zuckerberg has argued that his work on Facebook was independent of his work for UConnect.
Drawn-out litigation has ensued, with all eyes on the astronomical value of Facebook. When Microsoft purchased a small minority stake in the social networking firm in 2007, a $15 billion valuation was established for Facebook. Earlier, a law firm reported there was a $65 million settlement in the Winklevoss-Zuckerberg litigation, but that figure has never been verified by the involved parties.
While Zuckerberg forges ahead with Facebook, the Winklevoss twins, champion rowers, will be training for the 2012 London Olympics.