Multiple anonymous sources reportedly confirmed that about 40 of the company's 150 domestic employees were sacked yesterday morning. BitTorrent has struggled to turn a profit over the last couple of years.
Despite its ubiquitous name recognition and multiple profit-sharing partnerships with major musical acts, the company never quite shook the "pirated media" stigma with mainstream consumers. It also offered a string of peer-to-peer based products that never really went anywhere.
I mean, do you remember Bleep, BitTorrent's P2P messaging app? No, of course you don't. BitTorrent reportedly made the cuts in order to streamline its business and focus on Sync, a cloud storage system based on it's peer-to-peer file sharing system.
