College App Fizz Accuses VC of Leaking Secrets to Rival Sidechat

A long-running legal battle between college-focused social platforms Fizz and Sidechat has taken a dramatic turn. In a recent court filing, Fizz alleges that venture capitalist Jerry Lu, a partner at Maveron, misused confidential information obtained during a supposed investment meeting. According to the complaint, Lu secretly shared Fizz’s proprietary data with Sidechat, its direct competitor.

The accusations shine a spotlight on the ethics of venture capital in hyper-competitive startup ecosystems. Founders often disclose sensitive business details while fundraising, trusting that investors will hold that information in confidence. Yet some VCs continue to solicit updates from companies they’ve passed on, raising concerns about how that data is used.

Fizz and Sidechat operate in the same niche: anonymous social networks for college students, where users can gossip, connect, and share opinions. The rivalry is intense, but not all universities welcome these platforms. The University of North Carolina system banned both apps from its campuses, citing rampant bullying and toxic behavior. On Fizz, for instance, users can post a person’s name and invite public commentary, often leading to harassment.

Fizz initially sued Sidechat in 2023, accusing it of a range of unfair competitive tactics. The original complaint alleged that Sidechat disrupted Fizz’s campus launches, spread false rumors about a data breach, filed fake spam reports against Fizz on Instagram, and even paid students to delete the Fizz app. At the time, Lu was not named in the suit.

According to the new filing, Fizz only discovered Lu’s involvement through the legal discovery process. Evidence reportedly shows that Lu obtained Fizz’s confidential information and passed it to Flower Ave Inc., the parent company of Sidechat, which also acquired the Yik Yak app in 2023. The complaint further claims Lu acted as an ongoing source of intelligence, feeding details about Fizz’s fundraising and strategy to Sidechat.

A screenshot of a text message attached to the filing allegedly shows Lu sharing notes with Flower after meeting with Fizz founders Teddy Solomon and Ashton Cofer in March 2022. During that meeting, the founders disclosed non-public information about Fizz’s “business strategy, growth plans, campus-launch playbook, user metrics, ambassador program, fundraising efforts, and product roadmap,” the complaint states.

PitchBook data indicates Lu later invested in Sidechat’s second seed round in October 2023. However, Fizz claims Lu had been in contact with Sidechat as early as 2022. The filing also alleges that Jack Burlinson, an acquaintance of both the founders and Lu, shared Fizz’s investor deck and fall summary with Lu, who then forwarded it to Sidechat.

Neither Lu nor Maveron responded to requests for comment. Fizz declined to comment on the ongoing litigation.

Kyle Venn, CEO of Yik Yak and Sidechat, provided a statement via email: “These are allegations, not court findings. We deny any wrongdoing and will address this through the legal process. The alleged events happened before the current Sidechat team acquired the business in 2025 and inherited the lawsuit. No one on today’s operating team was involved. We’re currently focused on making a great product, not suing other apps.”