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Video - Wednesday, September 17, 2008

Bittorrent Screw-ups Raise $16M More

Talk with anyone who has ever done time at Bittorrent and they will say in unison that the opportunity there was blown. Solid technology, fast growing user base, plenty of venture funding, etc. But the folks who ran the show were not right in the head. Co-founder Bram Cohen is a certified spaz and his fellow co-founder Ashwin Navin could not reign him in. In its first VC-backed iteration the startup tried to have it both ways being a consumer play while competing against partners who also wanted to run consumer plays.

Today DCM, Accel and DAG Ventures invested a further $16M into Bittorrent. So clearly these are investors who are used to success backing a startup where everyone involved has long since put a fork in it. Behind closed doors, we are certain that investors are saying that they are are sick and tired of the nonsense from the top at Bittorrent but they still think the Bittorrent brand is worth something.

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