Oh boy. Gawker’s male escort source sues Conde Nast exec for accusing him of a “shakedown”

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Not satisfied with getting itself sued by story subjects, celebrities and even its own former employees, Gawker is now helping to get other people sued.

Exhibit A: The lawsuit filed last week by L. Derek Truitt, the male escort who acted as a source for Gawker’s grotesque story which outed a senior Conde Nast exec as gay. According to the suit, the exec falsely accused the escort of a “shakedown” — a claim that was subsequently reported by Gawker.

Remarkably, and with breathtaking irony, Truitt — who says he is an army veteran suffering from post traumatic stress  — is suing the exec for defamation, demanding $ 5m in damages. The thrust of his claim: That by denying Truitt’s highly personal allegations, the exec damaged the good name of the escort who outed him to Gawker.

From the suit…

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Source: Xiaomi raising a new mega round of funding, passing Uber in valuation again

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Pando has heard that Chinese smartphone maker Xiaomi is reportedly raising a new mega round of funding — and if my source is accurate — it’s passing Uber in valuation again. 

The price? As high as $ 60 billion.

If that valuation is accurate, this is a pivotal moment in the global startup landscape for a few reasons. In fact, the fact these negotiations are happening at all makes it a pivotal moment, regardless of the valuation. 

The first reason is kinda comical: Chinese entrepreneurs just keep fucking with Uber. Not only is Didi Kuaidi just about to checkmate Uber’s Chinese domination plans– with its near 80% market share, huge cash trove, WeChat smackdown and, no doubt, more coming– but now a totally different Chinese tech company is reportedly once again taking the top private company valuation spot…

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