Investors behind scraper/spammer startup Radpad enjoyed a juicy, well-deserved $60m “exit” recently, as reported by the National Law Review:
|In its latest judicial victory, on April 13, 2017, craigslist obtained a $60.5 million judgment against Radpad on various claims relating to harvesting content from craigslist’s site and sending unsolicited commercial emails to craigslist users. (Craigslist, Inc. v. RadPad, Inc., No. 16-01856 (N.D. Cal. Apr. 13, 2017)).During the course of the litigation, Radpad became insolvent and its attorney withdrew from representation, essentially allowing craigslist to obtain what amounts to a default judgment.
|The relief included:
- CAN-SPAM: $40 million, based upon violations from 400,000 emails.
- Copyright: $20.4 million for copyright infringement based on RadPad’s scraping of various user postings from craigslist’s site.
Who says nice guys have to finish last?