Home > News > BitTorrent Lays Off Half of Its Staff • Bookmark   • Newsletters   • Register Search Options

NEWS STORY

BitTorrent Lays Off Half of Its Staff

Chief technology officer promoted to CEO
BitTorrent Lays Off Half of Its Staff
Get XBIZ News
Nov 9, 2008 10:00 AM PST    Text size: 
SAN FRANCISCO — The company behind file-sharing system BitTorrent has laid off 18 employees — about half of its staff — and may drop plans to challenge iTunes with its own network.

In August, the company let go 20 percent of its workforce in August and the layoffs are “showing signs of serious trouble while [BitTorrent] tries to commercialize its technology,” according to a New York Times report.

As an open-source technology protocol, BitTorrent represents about half the world’s Internet traffic.

The future of BitTorrent Entertainment Network, once heralded as a challenger to iTunes, is uncertain. The company’s 20 employees will work on BitTorrent DNA, a content delivery network that helps media and video game companies distribute their products cheaply over the Internet.

On Friday, BitTorrent announced that it was promoting Eric Klinker, who served as chief technology officer, to CEO. The company's co-founder, Ashwin Navin, has announced he's leaving the company.

More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !

PROFILES & BIOS

NMG’s Megan Stokes Helps Brands Find New Revenue

NMG Management, which helps adult companies find new ways to increase revenue and brand exposure, has some of the industry’s most prominent studios listed as clients. From MetArt to Holly Randall... More »

Cam World: Chaturbate’s Ramona Flour Cultivates Community

Wreathed in a scarlet mane of silky flames, Ramona Flour is a mesmerizing Renaissance woman, her painterly figure gorgeously inked and her savvy intellect sharpened to a witty edge. Artistry pours forth... More »

Cam World: TheaForYou Hypnotizes Audiences on Stripchat

TheaForYou is an exotic mirage of heavenly dreams, dancing through streaming lights whenever she graces the web-cam on Stripchat. Shimmering golden hair crowns her adorable eyes like solar rays spun from... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ Premiere magazine, the industry's leading adult retail trade publications, delivering the most timely and comprehensive business news and information to producers and retailers of adult products.

UPCOMING EVENTS

XBIZ.net Paysite Meetup

May 04 - May 04
Prague, Czech Republic

Eurowebtainment 2017

May 17 - May 20
Majorca, Spain

XBIZ Retreat

May 30 - Jun 03
Miami, Florida

XBIZ Miami 2017

May 30 - Jun 02
Miami, Florida
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!