BitTorrent fired its own CEOs
How is BitTorrent doing right now? Well, they just fired their own co-CEOs, closed their studio in Los Angeles and they shot down the BitTorrent Now service. These are announced by an email sent by the founder of the company, Bram Cohen, to company’s staff and reported by Variety.
Johnson and Delamar were selected as co-CEOs in April and now, they are removed from company board of directors. Cohen also announced that beside the CEOs, they will also let go unknown number of employees.
According to the Cohen, the CEOs were out of control as they were spending millions of dollars to the BitTorrent Now, a service that supposed to be the Spotify for independent creators. Yet, that was only one of their attempts to be part of the entertainment industry. Like the Torrent Entertainment Network, it also became the part of history and showed that the company is not really successful in this industry.
In any case though, their video platform service BitTorrent live will not be shutdown, at least as far as we know.
Via | TheVerge