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BitTorrent Inc. Sold, and with it uTorrent

Written by Hassan Abbas

Variety, referring to anonymous sources, reported the sale of BitTorrent Inc., which created the same-named p2p protocol and file-sharing clients BitTorrent and uTorrent. The new owner of BitTorrent Inc. became the founder of the blockbuster network Tron billionaire Justin Sun (Justin Sun). The deal was not officially disclosed, but as TechCrunch reports, Sun was ready to pay $ 140 million for the company in January of this year.

Justin San is known for having made his fortune on various block projects. The most successful of them is the start-up Tron, which positions itself as one of the world’s largest block-net networks. The main task of Tron is the creation of a “decentralized Internet and its infrastructure”. Within the framework of this project TRX cryptocurrency was also created, its capitalization at the current moment is $4.5 billion.

BitTorrent

BitTorrent

Since the official confirmation of the transaction at the time of writing the news was not there, so it is difficult to imagine the future fate of uTorrent and other products of the company. According to TechCrunch sources, who are allegedly shareholders of the company, Justin San may have two options for using BitTorrent Inc. The first is to legitimize the activities of Tron, who was previously accused of plagiarism. The second option assumes that BitTorrent with its audience of more than 170 million users can become a tool for mining the TRX cryptocurrency using p2p technology.

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The last couple of years for BitTorrent Inc. were the most difficult. The company unsuccessfully tried to diversify its activities by launching a streaming, data synchronization, and content distribution services. But these attempts did not save the company from pressing problems.

Via: Techcrunch

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About the author

Hassan Abbas

Tech enthusiast with too many items on his wish-list and not nearly enough money! Specializing in all things tech, with a slight Apple bent he has been writing for various blogs for the best part of (too many) years

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