RECORDING: College Fizz app accuses VC of sharing confidential startup information with rival Sidechat

The years-long lawsuit between college-focused social app Fizz and rival Sidechat over unfair competition practices has taken an interesting turn. In a new filing, Fizz accuses investor Jerry Lu of venture capital firm Maveron of meeting with Fizz under the guise of exploring a potential investment, but then turning around and sharing Fizz’s non-public information with rival Sidechat.

The new allegations raise questions about the role venture capitalists play in competitive startup markets, where founders routinely share confidential business information while raising money, confident that investors won’t pass it on to competitors. Some venture capital firms continue to ask for updates from startups they’ve passed, the founders said.

Fizz and Sidechat are in the same business: anonymous online forums and apps where college students can communicate and gossip. As a result, competition for students’ attention is intense. However, not all universities see apps as providing value to their students. The UNC System has banned the apps from its campuses across North Carolina, citing bullying and bad behavior that occurs on these anonymous social platforms. In Fizz, for example, students can simply post an individual’s name, inviting their peers to say what they want about that person.

Fizz sued Sidechat in 2023, alleging a range of violations, including attempts to disrupt its launches at various universities, spreading false rumors about hackers accessing Fizz’s data, sending false spam reports to Instagram, and paying students to delete the Fizz app.

The original complaint did not name Law, because his involvement was not known at the time.

Fizz says in its complaint that it only learned of Lu’s involvement through the legal discovery process, which revealed his role in obtaining Fizz’s confidential information and passing it to Sidechat’s owner, Flower Ave Inc., which also acquired the Yik Yak app in 2023.

Fizz’s filing also alleges that Lu continued to act as a conduit, relaying information about Fizz’s fundraising efforts and other matters to Sidechat.

A screenshot of text attached to the file shows Law sharing notes with Flower after his meeting with Fizz in March 2022, the complaint alleges. At that meeting, Fizz founders Teddy Solomon and Ashton Cofer shared non-public information about Fizz’s “business strategy, growth plans, campus launch guide, user metrics, ambassador program, fundraising efforts, and product roadmap,” the complaint states.

Lu continued to invest in Sidechat’s second seed round in October 2023, according to Pitchbook data. However, Fizz claims that Law was in discussions with Sidechat in early 2022.

Additionally, Fizz claims that Jack Burlinson, an acquaintance of the founders and Lu, shared confidential information — including Fizz’s investor pool and the fall investor summary — with Lu, who passed it directly to Sidechat.

Requests for comment sent to Law and Maveron were not responded to. Fez declined to comment.

Kyle Finn, CEO of social media platforms Yik Yak and Sidechat, shared the following comment with TechCrunch via email:

“These are allegations, not court findings. We deny any wrongdoing and will address this through legal action. The alleged events occurred before the current Sidechat team acquired the company in 2025 and inherited the lawsuit. No one on the operating team is involved today. We are currently focused on making a great product, not suing other apps.”