The developer of the p2p-protocol BitTorrent and the popular file-exchange client uTorrent, was sold to the billionaire, the creator of the Tron crypto currency Justin San. The deal was closed last week. The amount of this transaction is not disclosed, informs Variety with reference to informed sources.
San, who made fortunes on the blockchain projects, began to show interest in BitTorrent last September, and in January an agreement of intent was signed between the parties. Nevertheless, at the same time the authors of uTorrent began to look for other buyers, which forced the businessman to go to court.
According to the publication, as a result, San withdrew the claim and soon registered a new company – Rainberry Acquisition. In a similar legal entity – Rainberry, the owner of the brand, was renamed BitTorrent at the beginning of last year. The deal on the merger of the two companies was formalized last week.
BitTorrent, established in 2004, is the creator of the most popular protocol for file-sharing networks. The technology allows placing on the site links to music, video and other content that is physically stored on the computers of other users. It is involved in a variety of trackers, including The Pirate Bay, isoHunt, Mininova and Rutracker.
In 2008, due to the failed idea of creating entertainment services around the p2p protocol, BitTorrent was forced to fire half of its employees and recapitalize. Over the following years, the company successfully developed its business, earning on advertising and pre-installed software. At the peak of popularity, the audience of BitTorrent services reached 150 million active users per month.
The amount that San gave for the project is unknown. However, he had enough money to buy BitTorrent and all its assets: the market capitalization of TRX cryptocurrency is estimated at $ 4.78 billion, $ 1.65 of which is owned by Sana, the Tron Foundation. This organization declares plans to build a “decentralized Internet” so that developers can create applications based on the blockchain. As the purchase of BitTorrent fits into these plans, it is unclear. Source: hitech.vesti.ru