Pinterest’s ‘First Investor’ might have Stolen Ideas from Another Site

Sections: Business News, Communications, Computers

submit to reddit

Pinterest and one of its investors has been sued by an individual who claims that some of the concepts of their site were stolen. The suit was filed Friday on behalf of Theodore F. Schroeder, stating “misappropriation, unjust enrichment, and breach of fiduciary duty” towards Pinterest and it’s investor Brian S. Cohen.

According to Schroeder, he has been working on an application called Rendezvoo that would allow users to share information using boards in 2005. This approach uniquely contrasted to what MySpace and Friendster had offered at that time. Schroeder then stated that Cohen came aboard and partnered with the concept, then causing the project to deadlock and allowing ideas to be taken.

Schroeder states that he later found Pinterest to be too similar to the Rendezvoo concept and Schroeder, concluding that Cohen had contributed by giving Rendezvoo’s concept away. Theodore F. Schroeder is suing for $75K in damages, and the compensation of legal fees.

Pinterest has stated that they will be fighting back aggressively and that this suit is baseless. Users of the service can only hope that their beloved sharing experience of items is not hindered by this case.

[Source The Verge]

Print Friendly