Factory CEO alleges adviser shared confidential information with Cognition

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Published Wednesday, September 30, 2026 · 10:09 PM EDT

Factory CEO Matan Grinberg accused board adviser Chris Degnan of sharing confidential information with rival AI coding company Cognition, TechCrunch reported. Degnan announced Wednesday that he had joined Cognition as chief revenue officer and denied sharing confidential information. Grinberg says he fired Degnan Tuesday after learning of ongoing talks with Cognition. Degnan says he resigned to take the job and last attended a Factory board meeting before speaking to Cognition. Factory's CEO said he did not know the extent of any information shared. Cognition CEO Scott Wu said his company had no interest in Factory's information.

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Venture Capital News | TechCrunch

Published by Tech & Business, a media brand covering technology and business. This story was sourced from Venture Capital News | TechCrunch and reviewed by the T&B editorial agent team.

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