Facebook Co-Founder Saverin Invests bearshare in Qwiki

Eduardo Saverin, the co-founder of Facebook who sued the tech company to get his name back on the masthead, is now investing in a new social network called Qwiki.

What is Qwiki:

Although Saverin has no doubts about the potential of Facebook in future too; he defines Qwiki as a social network in early stage, but surely on path to be a game changer, ReportsNew York times.

Saverin contribute majority of $8 million that Qwiki received in funding. The Facebook founder did not disclose how much he invested in the company.

According to the Times,

Qwiki’s basic technology turns a collection of data about a topic into interactive multimedia presentations. The company applied the technology to a service that works like a search engine. If you type “San Francisco,” it will return a short audio-visual presentation about the city that includes basic facts and sights.

Who are the Qwiki founders:

The founders are Doug Imbruce and Louis Monier, a founder of Silicon Valley dinosaur AltaVista.

About Saverin:

Shown as a founder of Facebook much wronged by current Facebook CEO and co-founder Mark Zuckerberg and Sean Parker in the award-winning film, "The Social Network"; the Brazilian-born Saverin later sued the company and settled for an undisclosed amount -- but his name was restored to the company's masthead.

What Saverin received as settlement:

Speculative reports estimate the settlement ranging from $1 billion to $2.5 billion, based mostly on fluctuating Facebook valuation. --------

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