Report: BitTorrent Fires Co-CEOs, Shutters 'BitTorrent Now'
October 6, 2016 at 1:06 PM (PT)
BITTORRENT has shut down its video and audio streaming platform BITTORRENT NOW and has fired co-CEOs ROBERT DELAMAR and JEREMY JOHNSON as well as an undetermined number of staff members, reports VARIETY. The company also closed its LOS ANGELES production studio and named CFO DIPAK JOSHI as Interim CEO. BITTORRENT told staff about the changes in an email from founder BRAM COHEN earlier this week.
VARIETY cites "insiders" saying that the company's spending on BITTORRENT NOW, launched in JUNE, was "out of control." A previous attempt to establish a legitimate, legal content distribution platform in 2008 met a similar demise.