BitTorrent: $17 M Financing Undone, Valuation Plummets
Sun, 14 Dec 2008 13:58:01 -0800
File sharing service BitTorrent has undone its $17 million financing from earlier this year. The company, admitting that the their business was “not gaining sufficient traction,” has closed a new $7 million round of financing from those same investors at a “substantially reduced” valuation of $28 million.
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