BitTorrent loses its $17M funding?
The news continues to be bad for file-sharing startup BitTorrent, according to a report at TechCrunch, which claims the San Francisco company’s recent $17 million venture round has been substantially reduced.
In a letter 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… Continue Reading