Chief Executive Evan Spiegel and Chief Technology Officer Robert Murphy said they reached an agreement
with fraternity brother and ex-colleague Frank Reginald Brown IV after more than a year and a half of negotiations.
Brown originally came up with the idea for an app that sends disappearing photos in Spring 2011 while attending
Stanford University, and then shared the concept with Spiegel. The two collaborated with Murphy to develop what
eventually became Snapchat, but Brown was later pushed out of the company, which is now valued at $10 billion.
The settlement resolves all disputes between the parties, the statement said. The terms of the settlement are confidential,
but the statement acknowledges Brown's creation of the concept of Snapchat.
"We are pleased that we have been able to resolve this matter in a manner that is satisfactory to Mr. Brown and the
Company," Spiegel said. "We acknowledge Reggie’s contribution to the creation of Snapchat and appreciate his
work in getting the application off the ground."