Was Apple acquisition a sound defeat for headphone wizards?
J Thoendell stashed this in Tech
Noel and Kevin Lee just got shut out of a $3.2 billion payday - but all things considered, they are taking it pretty well.
If not for one provision written into a contract signed in 2006, the father-and-son entrepreneurs would be basking in one of this year's biggest tech paydays with Beats Electronics co-founders Jimmy Iovine, the Hollywood recording-industry powerhouse, and rap star Andre "Dr. Dre" Young.
Instead, the Lees find themselves competing against Apple - and to some extent, each other - for a slice of the growing, yet crowded, designer headphones market.
"It was a great learning experience, it was really the time of our lives, and we appreciated the relationship with Jimmy and Dre," said Noel, founder of Brisbane's Monster Products. "But we got dropped off a cliff."