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Divya Narendra

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Divya Narendra
Divya Narendra
Narendra in 2011
Born (1982-03-18) March 18, 1982 (age 42)
The Bronx, New York, U.S.
NationalityAmerican
Alma materHarvard University
Northwestern University
OccupationBusinessman
Known forConnectU
SpousePhoebe White

Divya Narendra (/nəˈrɛndrə/; born March 18, 1982) is an American businessman. He is the CEO and co-founder of SumZero along with Harvard classmate Aalap Mahadevia. He also co-founded HarvardConnection (later renamed ConnectU) with Harvard University classmates Cameron Winklevoss and Tyler Winklevoss.

Early life and education

Divya Narendra was born in the Bronx, New York and raised in Bayside, Queens.[1] He is the eldest son of two immigrant doctors from India.[2] Narendra scored a near-perfect SAT and graduated from Townsend Harris High School in Flushing, Queens before attending Harvard University in 2000, from which he graduated with an A.B. cum laude in applied mathematics in 2004.[1][3][4]

Narendra graduated from Northwestern University School of Law and the Kellogg School of Management in 2012, earning a J.D. and an MBA.[4]

SumZero

SumZero is a company started by Divya Narendra and Aalap Mahadevia. Narendra described how he came up with the concept in an interview. "SumZero was initially inspired by a need for a simple, centralized, and searchable platform in which professional investors working at hedge funds, mutual funds, and private equity funds could share rigorous investment ideas and network with one another. Since then the concept has expanded and SumZero is taking steps to bring a subset of high-level investment research to the investing community at large."[5]

ConnectU

Main article: ConnectU

ConnectU (originally Harvard Connection) was a social networking website launched on May 21, 2004,[6] that was founded by Harvard students Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra in December 2002.[7] Users could add people as friends, send them messages, and update their personal profiles to notify friends about themselves.[8] Users were placed in networks based upon the domain name associated with the email address they used for registration.[9] The site subsequently relaunched and became an active online community at Harvard Connection for a time, but has since been discontinued.

Sanjay Mavinkurve was the first programmer asked to build HarvardConnection.[9] Sanjay commenced work on HarvardConnection but left the project in the spring of 2003 when he graduated and went to work for Google.[10]

After the departure of Sanjay Mavinkurve, the Winklevosses and Narendra approached Narendra’s friend, Harvard student and programmer Victor Gao to work on HarvardConnection.[9] Gao, a senior in Mather House, had opted not to become a full partner in the venture, instead agreeing to be paid in a work for hire capacity on a rolling basis.[11] He was paid $400 for his work on the website code during the summer and fall of 2003, but he excused himself thereafter due to personal obligations.[12]

Mark Zuckerberg

In November 2003, upon the referral of Victor Gao, the Winklevosses and Narendra approached Mark Zuckerberg about joining the HarvardConnection team.[13] By this point, the previous HarvardConnection programmers had already made progress on a large chunk of the coding: front-end pages, the registration system, a database, back-end coding, and a way users could connect with each other, which Gao called a "handshake".[11] In early November, Narendra emailed Zuckerberg saying, “We’re very deep into developing a site which we would like you to be a part of and ... which we know will make some waves on campus.”[11] Within days, Zuckerberg was talking to the HarvardConnection team and preparing to take over programming duties from Gao.[11] On the evening of November 25, 2003,[14] the Winklevosses and Narendra met with Zuckerberg in the dining hall of Harvard's Kirkland House, where they explained to an enthusiastic Zuckerberg the HarvardConnection website, the plan to expand to other schools after launch, the confidential nature of the project, and the importance of getting there first.[11][15] During the meeting, Zuckerberg allegedly entered into an oral contract with Narendra and the Winklevosses and became a partner in HarvardConnection.[6] He was given the private server location and password for the unfinished HarvardConnection website and code,[12] with the understanding that he would finish the programming necessary for launch.[6] Zuckerberg allegedly chose to be compensated in the form of sweat equity.[16]

On November 30, 2003, Zuckerberg told Cameron Winklevoss in an email that he did not expect completion of the project to be difficult. Zuckerberg writes: "I read over all the stuff you sent and it seems like it shouldn't take too long to implement, so we can talk about that after I get all the basic functionality up tomorrow night."[13] The next day, on December 1, 2003, Zuckerberg sent another email to the HarvardConnection team. "I put together one of the two registration pages so I have everything working on my system now. I'll keep you posted as I patch stuff up and it starts to become completely functional."[15] On December 4, 2003, Zuckerberg writes: "Sorry I was unreachable tonight. I just got about three of your missed calls. I was working on a problem set."[15] On December 10, 2003: "The week has been pretty busy, so I haven't gotten a chance to do much work on the site or even think about it really, so I think it's probably best to postpone meeting until we have more to discuss. I'm also really busy tomorrow so I don't think I'd be able to meet then anyway."[15] A week later: "Sorry I have not been reachable for the past few days. I've basically been in the lab the whole time working on a cs problem set which I'm still not finished with."[15] On December 17, 2003,[14] Zuckerberg met with the Winklevosses and Narendra in his dorm room, allegedly confirming his interest and assuring them that the site was almost complete.[11] On the whiteboard in his room, Zuckerberg allegedly had scrawled multiple lines of code under the heading “Harvard Connection.” However, this would be the only time they saw any of his work.[11] On January 8, 2004, Zuckerberg emailed to say he was "completely swamped with work [that] week" but had "made some of the changes ... and they seem[ed] to be working great" on his computer. He said he could discuss the site starting the following Tuesday, on January 13, 2004.[13][17] On January 11, 2004, Zuckerberg registered the domain name thefacebook.com.[18] On January 12, 2004, Zuckerberg e-mailed Eduardo Saverin, saying that the site [thefacebook.com] was almost complete and that they should discuss marketing strategies.[11] Two days later, on January 14, 2004,[14] Zuckerberg met again with the HarvardConnection team. However, he allegedly never mentioned registering the domain name thefacebook.com nor a competing social networking website, rather he reported progress on HarvardConnection, told them he would continue to work on it, and would email the group later in the week.[13] On February 4, 2004, Zuckerberg launched thefacebook.com, a social network for Harvard students, designed to expand to other schools around the country.[6]

On February 6, 2004, the Winklevosses and Narendra first learned of thefacebook.com while reading a press release in the Harvard student newspaper The Harvard Crimson.[11] According to Gao, who looked at the HarvardConnection code afterward, Zuckerberg had left the HarvardConnection code incomplete and non-functional, with a registration that did not connect with the back-end connections.[9] On February 10, 2004, the Winklevosses and Narendra sent Zuckerberg a cease and desist letter.[19][20] They also asked the Harvard administration to act on what they viewed as a violation of the university’s honor code and student handbook.[21] They lodged a complaint with the Harvard Administrative Board and university president Larry Summers; however, both viewed the matter to be outside the university's jurisdiction.[22] President Summers advised the HarvardConnection team to take their matter to the courts.[17]

Leaked instant messages

Between November 30, 2003 and February 4, 2004, Zuckerberg exchanged a total of 52 emails with the HarvardConnection team and engaged in multiple in-person meetings.[17] During the same period of time, Zuckerberg engaged in multiple electronic instant message communications with people outside the HarvardConnection team. On March 5, 2010, certain electronic instant messages from Mark Zuckerberg's hard drive were leaked to the public.[15] On September 20, 2010, Facebook confirmed the authenticity of these leaked instant messages in a New Yorker article.[23]

Later, a partnership allegedly formed between i2hub, a popular peer-to-peer service at the time, and ConnectU. The partnership, called The Winklevoss Chang Group, jointly advertised their properties through bus advertisements as well as press releases. i2hub integrated its popular software with ConnectU's website, as part of the partnership. The team also jointly launched several projects and initiatives.[24][25]

Facebook lawsuits

In 2004, ConnectU filed a lawsuit against Facebook alleging that creator Mark Zuckerberg had broken an oral contract with them. The suit alleged that Zuckerberg had copied their idea[26][27] and illegally used source code intended for the website he was hired to create.[28][29][30][31] Facebook countersued in regards to Social Butterfly, a project put out by the Winklevoss Chang Group, an alleged partnership between ConnectU and i2hub, another campus service. It named among the defendants ConnectU, Cameron Winklevoss, Tyler Winklevoss, Divya Narendra, and Wayne Chang, founder of i2hub.[32] A settlement agreement for both cases was reached in February 2008, reportedly valued at $65 million.[33] However, in May 2010, it was reported that ConnectU is accusing Facebook of securities fraud on the value of the stock that was part of the settlement and wants to get the settlement undone. According to ConnectU's allegations, the value of the stock was worth $11 million instead of $45 million that Facebook presented at the time of settlement. This meant the settlement value, at the time, was $31 million, instead of the $65 million.[34][35] On August 26, 2010, The New York Times reported that Facebook shares were trading at $76 per share in the secondary market, putting the total settlement value at close to $120 million.[36][37] If the lawsuit to adjust the settlement to match the difference goes through, the value will quadruple to over $466 million.[38] According to Steven M. Davidoff, "Facebook never represented its valuation in this negotiation, and so there is no prior statement that the company needs to correct."[39]

Quinn Emanuel lawsuits

One of ConnectU's law firms, Quinn Emanuel Urquhart & Sullivan, disclosed the confidential settlement amount in marketing material by printing "WON $65 million settlement against Facebook".[40] Quinn Emanuel is seeking $13 million of the settlement. ConnectU fired Quinn Emanuel and sued the law firm for malpractice.[41] On August 25, 2010, an arbitration panel ruled that Quinn Emanuel "earned its full contingency fee". It also found that Quinn Emanuel committed no malpractice.[42]

The Winklevoss Chang Group lawsuit

On December 21, 2009, i2hub founder Wayne Chang and the i2hub Organization launched a lawsuit against ConnectU and its founders, seeking 50% of the settlement. The complaint says, "The Winklevosses and Howard Winklevoss filed [a] patent application, U.S. Patent Application No 20060212395, on or around March 15, 2005, but did not list Chang as a co-inventor." It also states, "Through this litigation, Chang asserts his ownership interest in The Winklevoss Chang Group and ConnectU, including the settlement proceeds."[25] Lee Gesmer of the firm Gesmer Updegrove posted the detailed 33-page complaint online.[24][43]

On May 13, 2011, it was reported that Judge Peter Lauriat made a ruling against the Winklevosses. Chang's case against them could proceed. The Winklevosses had argued that the court lacks jurisdiction because the settlement with Facebook has not been distributed and therefore Chang hasn't suffered any injury. Judge Lauriat wrote, "The flaw in this argument is that defendants appear to conflate loss of the settlement proceed with loss of rights. Chang alleges that he has received nothing in return for the substantial benefits he provided to ConnectU, including the value of his work, as well as i2hub's users and goodwill." Lauriat also wrote that, although Chang's claims to the settlement are "too speculative to confer standing, his claims with respect to an ownership in ConnectU are not. They constitute an injury separate and distinct from his possible share of the settlement proceeds. The court concludes that Chang has pled sufficient facts to confer standing with respect to his claims against the Winklevoss defendants."[44][45][46][47][48][49]

Personal life

On June 17, 2017, Narendra married Phoebe White, an American-born research analyst. The couple had met four years earlier, when he wandered into a birthday party at a bar uninvited and saw White, who was a party guest. They spoke only for a couple of minutes, but she gave enough information for Narendra to track her down online, which resulted in an email and then a date.[50]

Narendra is portrayed by Max Minghella in The Social Network (2010), a film directed by David Fincher about the founding of Facebook. Narendra is of Indian ancestry, while Minghella is of Italian and Chinese ancestry. Narendra said that he was "initially surprised" to see himself portrayed by a non-Indian actor but also said that "Max did a good job in pushing the dialogue forward and creating a sense of urgency in what was a very frustrating period."[51]

References

  1. ^ a b Chhabra, Aseem (2010-10-15). "Facebook Wars: Facebook was his idea!". India Abroad.
  2. ^ Ravindran, Shruti (2010-10-10). "Facebooked". bazpur, uttrakhand, Indian Express.
  3. ^ Fowler, Geoffrey (2010-10-11). "Creative license of 'Social Network'". Wall Street Journal.
  4. ^ a b "Divya LinkedIn".
  5. ^ "Interview with Divya Narendra, CEO of SumZero". Archived from the original on 2010-06-17. Retrieved 2010-07-27.
  6. ^ a b c d Bombardieri, Marcella (2004-09-17). "Online Adversaries: Rivalry between college-networking websites spawns lawsuit". The Boston Globe.
  7. ^ Pontin, Jason (2007-08-12). "Who owns the concept if no one signs the papers?". The New York Times.
  8. ^ Cassidy, John (2006-05-15). "Me Media: How hanging out on the Internet became big business". The New Yorker.
  9. ^ a b c d McGinn, Timothy (2004-05-28). "Online facebooks duel over tangled web of authorship". The Harvard Crimson.
  10. ^ Richtel, Matt (2009-04-11). "Tech recruiting clashes with immigration rules". The New York Times.
  11. ^ a b c d e f g h i O'Brien, Luke (2007-12-03). "Polking Facebook". 02138 Magazine.
  12. ^ a b ConnectU, Inc. v. Facebook, Inc. et al, Declaration of Victor Gao (Massachusetts Federal Court 2007-09-21), Text.
  13. ^ a b c d "Facebook accused of stealing idea". The Daily Free Press, Boston University. 2004-09-09. Archived from the original on 2010-10-04. Retrieved 2010-10-01.
  14. ^ a b c ConnectU, Inc. v. Facebook, Inc. et al, Complaint against all defendants, filed by Connectu, Inc. (Massachusetts Federal Court 2007-03-28), Text.
  15. ^ a b c d e f Carlson, Nicholas (2010-03-05). "At Last—The full story of how Facebook was founded". The Business Insideer.
  16. ^ Milcetich, Jess (2005-03-16). "Thefacebook.com faces lawsuit from rival site". The Diamondback, University of Maryland. Archived from the original on 2012-03-12. Retrieved 2010-10-01.
  17. ^ a b c Maugeri, Alexander (2004-09-20). "TheFacebook.com faces lawsuit". The Daily Princetonian. Archived from the original on 2012-07-24. Retrieved 2010-10-04.
  18. ^ "WHOIS Lookup thefacebook.com". Retrieved 2010-10-01.
  19. ^ Glenn, Malcolm (2007-07-27). "For now, Facebook foes continue fight against site". The Harvard Crimson.
  20. ^ Stadtmiller, Mandy (2010-09-15). "Facebook's worst enemies". The New York Post. Archived from the original on 2010-10-09.
  21. ^ Hale, David (2004-10-06). "Facebook faces litigation over design concept". The Daily Orange. Archived from the original on 2010-11-20.
  22. ^ Sharif, Shirin (2004-08-05). "Harvard grads face off against thefacebook.com". The Stanford Daily. Archived from the original on 2010-06-18.
  23. ^ Vargas, Jose (2010-09-20). "The face of facebook". The New Yorker.
  24. ^ a b Lee Gesmer (2010-01-18). "Chang v. Winklevoss Complaint". Commonwealth of Massachusetts.
  25. ^ a b Caroline McCarthy (2010-01-04). "Fresh legal woes for ConnectU founders". CNET News.
  26. ^ Michael Levenson (2008-06-27). "Facebook, ConnectU settle dispute:Case an intellectual property kerfuffle". Boston Globe.
  27. ^ Malcom A. Glenn, "For Now, Facebook Foes Continue Fight Against Site", The Harvard Crimson, July 27, 2007
  28. ^ O'Brien, Luke (November–December 2007). "Poking Facebook". 02138. p. 66. Archived from the original on 2008-05-14. Retrieved 2008-06-26.
  29. ^ McGinn, Timothy J. (2004-09-13). "Lawsuit Threatens To Close Facebook". Harvard Crimson. Archived from the original on 2007-08-15. Retrieved 2008-03-08.
  30. ^ Maugeri, Alexander (2004-09-20). "TheFacebook.com faces lawsuit". The Daily Princetonian. Archived from the original on 2008-01-09. Retrieved 2008-03-08.
  31. ^ Tryhorn, Chris (2007-07-25). "Facebook in court over ownership". The Guardian. London. Retrieved 2008-03-15.
  32. ^ California Northern District Court (2007-03-09). "The Facebook, Inc. v. Connectu, LLC et al". Justia.
  33. ^ Brad Stone (2008-06-28). "Judge Ends Facebook's Feud With ConnectU". New York Times.
  34. ^ Owen Thomas (2010-05-19). "Facebook CEO's latest woe: accusations of securities fraud". VentureBeat.
  35. ^ Nick Farrell (2010-05-21). "Facebook's Zuckerberg faces security fraud allegation". TechEye. Archived from the original on 2010-07-24.
  36. ^ "Investors Value Facebook at Up to $33.7 Billion". New York Times. August 26, 2010.
  37. ^ Eric Eldon (February 12, 2009). "Financial wrinkle lost ConnectU some Facebook settlement dollars". VentureBeat.
  38. ^ Owen Thomas (May 19, 2010). VentureBeat https://venturebeat.com/2010/05/19/facebook-connectu-securities-fraud/. {{cite news}}: Missing or empty |title= (help)
  39. ^ Davidoff, Steven M. (January 13, 2011). "Twins' Uphill Battle With Facebook and Zuckerberg". New York Times. Archived from the original on June 25, 2017. Retrieved March 5, 2017.
  40. ^ Dan Slater (2009-02-10). "Quinn Emanuel Inadvertently Discloses Value of Facebook Settlement". Wall Street Journal.
  41. ^ Zusha Elinson (2010-02-10). "Quinn Emanuel Brochure Spills Value of Confidential Facebook Settlement". The Recorder.
  42. ^ Nate Raymond (2010-09-15). "Arbitrators Confirm Quinn Emanuel's Fee in Facebook Settlement". The National Law Journal.
  43. ^ Lee Gesmer (2010-01-18). "The Road Goes on Forever, But the Lawsuits Never End: ConnectU, Facebook, Their Entourages". Mass Law Blog.
  44. ^ Bianca Bosker (2011-05-13). "Wayne Chang's Suit Against Winklevoss Twins Can Proceed, Judge Rules". Huffington Post.
  45. ^ Sheri Qualters (2011-05-13). "Winklevoss Twins Loses Again in Court". The National Law Journal.
  46. ^ "Winklevoss Twins Sued For Part Of Their Facebook Fortunes". Fox News. 2011-05-13.
  47. ^ Nick O'Neill (2011-05-13). "Developer Sues Winklevoss Twins, Everybody Cheers". AllFacebook. Archived from the original on 2012-01-08.
  48. ^ Chloe Albanesius (2011-05-13). "Winklevoss Twins Face Lawsuit Over Facebook Funds". PC Magazine.
  49. ^ Sophia Pearson (2011-05-13). "Winklevoss Twins Face Suit Over Failed Alliance, Judge Says". Bloomberg.
  50. ^ https://www.nytimes.com/2017/06/18/fashion/weddings/phoebe-white-divya-narendra.html
  51. ^ Divya Narendra on being a Wildcat, The Social Network and his suit against Facebook Archived 2010-11-15 at the Wayback Machine. North by Northwestern. Retrieved on 2012-09-16.
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