College app Fizz accuses VC of leaking secrets to rival Sidechat

The allegations center on a March 2022 meeting where Fizz founders Teddy Solomon and Ashton Cofer reportedly shared sensitive information, including growth strategies, user metrics, and product roadmaps, under the impression they were pitching an investment. Fizz claims that instead of evaluating the startup for his firm, Lu acted as an information broker, transmitting these details to Flower Ave Inc., the parent company of Sidechat. Court documents further suggest that an acquaintance, Jack Burlinson, allegedly facilitated this exchange by sharing Fizz’s investor deck directly with Lu.

This development sheds light on the precarious nature of startup fundraising, where founders must balance the need for capital against the risk of exposing trade secrets to hostile actors. While Lu eventually invested in Sidechat’s second seed round in October 2023, the complaint argues his involvement with the rival app began long before. Sidechat CEO Kyle Venn dismissed the claims as unproven allegations, noting that the current operating team inherited the lawsuit following a 2025 acquisition and was not involved in the alleged events. Maveron and Lu have not responded to requests for comment regarding the claims.