fan13027 Posted November 9, 2008 Report Share Posted November 9, 2008 http://bits.blogs.nytimes.com/2008/11/07/bittorrent-sacks-half-its-staff/As an open-source technology protocol, the file-sharing system BitTorrent is going strong, representing about half the world's Internet traffic by some measures. But the San Francisco company, BitTorrent, is showing signs of serious trouble while it tries to commercialize the technology.Today BitTorrent informed about half its employees, or 18 people, that they were being let go, according to a person familiar with events inside the company. That is in addition to a 20 percent staff reduction in August. In addition, a co-founder, Ashwin Navin, said yesterday that he was leaving the company, although he informed the board of directors of his exit in March.A person with knowledge of BitTorrent's plans also said the company would soon close its BitTorrent Entertainment Network, once conceived — and covered in the press — as a rival to iTunes. The company, with its remaining 20 employees, will focus on BitTorrent DNA, a content delivery network that helps media and video game companies distribute their products cheaply over the Internet.Update: Chief executive Doug Walker, a Silicon Valley veteran, has also been replaced, according to a company press release.A spokeswoman for BitTorrent had no comment.BitTorrent is backed by Accel Venture Partners and DCM, formerly Doll Capital Management. Link to comment Share on other sites More sharing options...
thelittlefire Posted November 9, 2008 Report Share Posted November 9, 2008 Heard about the downsizing in August, with some intrigue. It's not uncommon for the Board of a company to be privvy to knowledge several quarters before the public. Usually it happens during those yearly meetings. Link to comment Share on other sites More sharing options...
moogly Posted November 9, 2008 Report Share Posted November 9, 2008 Yep it was leaked in August:http://valleywag.com/5033808/bittorrent-inc-laying-off-12-of-55-employeesAnd surely many projects will stay in drawers (p2p streaming, DNA integration in uT, Mac client...). :/Anyway who wants to use a plateform to dwl not free contents with DRM ? Nobody. Link to comment Share on other sites More sharing options...
Ultima Posted November 13, 2008 Report Share Posted November 13, 2008 The news report from August was in reference to a different set of layoffs. Link to comment Share on other sites More sharing options...
moogly Posted November 13, 2008 Report Share Posted November 13, 2008 Bad news for BitTorrent Inc.: its director Ashwin Navin is about to leave and one half of employees has received a lay-off letter. :/In addition BitTorrent Entertainment Network will be closed soon.I hope uT's development will not suffer from theses changes... Link to comment Share on other sites More sharing options...
Ultima Posted November 14, 2008 Report Share Posted November 14, 2008 ... That's exactly what the article and fan13027's quote wrote ._. Link to comment Share on other sites More sharing options...
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