TeachBook.com Buys TeachQuest.com For $1,950, As It Settles Its Lawsuit With Facebook.com
Back in August of 2010 we posted about Facebook.com suing the site, TeachBook.com alleging trademark infringement.
“Teachbook, the Northbrook-based site sued by Facebook Inc. for using the word “book” in its name, has changed its name to “TeachQuest” as part of a settlement with the Palo Alto, Calif.-based social-networking giant.”
“We are pleased to announce that Facebook and Teachbook have arrived at an agreement that resolves Facebook’s trademark infringement lawsuit and allows for Teachbook’s continued operation under a new name,” Teachbook said in a statement.
“Under this agreement, Teachbook has changed its name to ‘TeachQuest.’ Facebook and Teachbook are pleased to put this dispute behind them.”
The company acquired the domain name TeachQuest.com, in October of 2011 from Afternic.com for a whopping $1,950.
Considering the company must have spent six figures, if not more on legal fees in its battle with Facebook.com its investment in new brand is less than impressive.