17 Nov '11, 8am

After losing all equity in @Fridae, gay portal’s co-founder moves site to another domain

After losing all equity in @Fridae, gay portal’s co-founder moves site to another domain

After losing all shares in Fridae, gay portal’s co-founder severs domain from company November 17, 2011 by Terence LEE Fridae.com is no more. That’s because the Singapore-based social network for Asia’s gay community has been shifted over to Fridae.asia , following some unresolved disputes with the Board of Fridae the company. Stuart had earlier resigned from the company as its director and CEO in May 2011. According to a letter he wrote recently , the reason for his departure was that he did not share the same vision with the Board. “This made it difficult, if not impossible for me to continue in my role. The last few months of my time at Fridae has left me disappointed and very disillusioned,” he wrote. Even after his departure, he and the board were unable to settle outstanding disputes. Furthermore, Stuart claimed that the Directors exercised a clause to forfeit all th...

Full article: http://sgentrepreneurs.com/news-stop/2011/11/17/after-los...

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