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Factory CEO just accused his VC board advisor of spying for Cognition
Factory co‑founder and CEO Matan Grinberg fired VC Chris Degnan from his board‑advisor role after alleging Degnan leaked confidential information to Factory’s main competitor, Cognition. Degnan, who had spent 11 years as Snowflake’s chief revenue officer, announced his new position as Cognition’s chief revenue officer two hours later and denied the accusations, claiming he resigned voluntarily. The dispute follows Factory’s recent $200 million raise at a $5 billion valuation and Cognition’s $2 billion funding round, underscoring heightened tensions among AI‑focused venture [...]