In brief: ‘Ousted’ Nuffnang CEO sues co-founder over alleged betrayal

Via The Straits Times:

“The two entrepreneurs who started Nuffnang, a social media advertising network that represents influencers such as prominent Singaporean blogger Xiaxue, are facing off in court with one accusing the other of betrayal. Singaporean Cheo Ming Shen, 35, who says he was forced out as the chief executive officer of Nuffnang’s parent company Netccentric last year, has sued co-founder Timothy Tiah Ewe Tiam, 34, a Malaysian.”

Netccentric’s revenue has been declining. Its revenue hit US$3.08 million in the first half of 2018, down from US$4.04 million in the same period last year. Its loss decreased over the same period (US$365,000 in 1H 2018 versus US$700,000 in 1H 2017).

Converted from Singapore dollars. US$1 = US$1.37.