BitTorrent has been going through rough times, according to the latest reports. The streaming media service that was launched a few months back does not seem to be quite a hit, scratching the floor and making the company tremble. As a result of this ongoing crisis, one of the CEOs of the company (Robert Delamar) was fired. This means that there is concern over the last judgement calls about BitTorrent Now initiative. In addition to that, the company confirmed having shut down their offices in Los Angeles.
All these news updates are not great for BitTorrent. They have apparently risked a lot with their recently launched streaming media service and this investment is not yet fruitful.
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Within a few months, nobody can say if the initiative is doomed altogether or if it needs more time to start building on solid ground. A lot of services have taken more than that, before gaining significant success or even universal acclaim.
According to the statement of the company to the Inquirer: “BitTorrent Inc remains focused on the media space, and there have been no changes to our platforms,” and this is definitely a reassuring statement, at least for now.
Obviously, the rumours have been trying to maximise the effects of a less than anticipated lack of success for the streaming media service. No wonder they have already reported that the second CEO of BitTorrent, Jeremy Johnson, was also fired. This is not valid information, though. The same goes for the reports that have included a large proportion of the company’s staff having been fired, too.
It is true that BitTorrent has a lot on its plate now. Apart from the release of BitTorrent Now, there have been a couple of other new releases (including its news platform and its live video streaming service).
All these new additions have placed a lot of weight on the shoulders of the company, without a doubt. With such huge competition in a truly challenging and ever-changing industry, it makes total sense why everything is fluid.
It remains unknown just how bad the situation is at BitTorrent. Within the following days, more are bound to be revealed and shed light to the shades. Till then, we can only hope that BitTorrent will be able to recover.
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