When Sarah Lacy interviewed Spark Capital partner Bijan Sabet about the danger of venture capital firms investing in similar companies, she indirectly found out about some drama between Tumblr and BNTER after doing some follow-up investigation. Lacy found out from three sources that Spark Capital had reneged on a term sheet that was offered to BNTER, a start-up based in New York founded by Lauren Leto.

You may know Lauren Leto best as being the co-founder of TextsFromLastNight.com. Now Leto is working on her second start-up called BNTER. Leto raised funding for BNTER from several angel investors that include Founder Collective (Chris Dixon), SV Angel (David Lee), and High Line Venture Partners (Shana Fisher).