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BitTorrent loses its $17M funding?
VentureBeat —
The news continues to be bad for file-sharing startup BitTorrent, according to a report at TechCrunch that the San Francisco company’s recent $17 million venture round has been substantially reduced.
In a letter that was reportedly sent to shareholders, BitTorrent chief executive Eric Klinker writes that the company raised its third round led by DAG Ventures in May and June of this year. But changes to the company’s business model and projections spurred DAG to demand that the the ...
BitTorrent Funding Reduced to Bits?
NewTeeVee —
... has announced that the $17 million in venture funding the company raised back in September has been greatly reduced, according to a report in TechCrunch. Evidently DAG Ventures, which led that latest round, was unhappy with what it was seeing. From that letter: ...
BitTorrent returns round to investors
VC Ratings —
... A report in TechCrunch says the startup has taken the very unusual step of undoing its recent $17 million financing round raised in spring and returning it to investors DAG Ventures, DCM and Accel Partners. A new Series C round, worth $7 million, was negotiated and brought BitTorrent to a far lower valuation, sparked in part by the slide in economic condtions following the closing of the original third round. ...
Around the Web 12.15.08: Metallica version of Guitar Hero, WSJ vs. Google, new Mahalo Answers
L.A. Times Tech Blog —
... -- If Google puts servers directly on the networks of Internet service providers, is it violating its Net neutrality policies? Discuss among yourselves. CNet
-- And if Lawrence Lessig's views on Net neutrality haven't changed, has he really "softened his opposition"? Lessig.org
-- L.A. techie Jason Calacanis launches Mahalo Answers. VentureBeat
-- BitTorrent is hurting. TechCrunch
-- Chris Gaither
Metallica photo credit: Paul Connors / ...
BitTorrent Renegotiates Third Round; Takes $10 Million Less Than Before
paidContent —
... over the summer, but according to TechCrunch, it has returned most of those funds to investors DAG Ventures, DCM and Accel Partners in exchange for a smaller, $7 million round. ...
If BitTorrent Goes Under, What Then?
AppScout —
... TechCrunch has an interesting report about BitTorrent handing back $17 million in financing, and receiving $7 million back. The reason? Falling valuations, which has made BitTorrent less valuable to investors. ...
BitTorrent un-finances to the tune of $17 million
Betanews —
... , but the company's visibly struggling. Layoffs last month eliminated (it is believed) 18 positions -- about half the staff -- and saw the departures of co-founder Ashwin Navin and CEO Doug Walker. (The former departure was in the works for several months, but Navin did take the November opportunity to announce that he was off to launch an incubator-type firm.) In a letter allegedly sent to shareholders and forwarded to TechCrunch (doesn't the word "confidential" mean anything anymore?), current CEO Eric Klinker mainly cited troubles specific to the business, rather than the ...
