Doing research on up-and-coming startups is every M&A department's core competency. If you are to believe the rumors - some big players are very sophisticated i

Doing research on up-and-coming startups is every M&A department's core competency. If you are to believe the rumors - some big players are very sophisticated in figuring out what to copy. Nobody is going to put up with hyper-stealth NDA paranoias nowadays. But I do think the jury is still out on radical transparency. I don't think Snapchat would still be around without its secrecy.