bit torrent1 BitTorrent returns Funds and closes Round with $7M

BitTorrent seems to be in a jam lately – the recent news about the company returning most of its current-raised funding ( $17 million to be exact) and closing the round with $7 million instead, extends problems for it. Funds were reversed back to investors DAG Ventures, DCM and Accel Partners in exchange for the smaller figure.

In its efforts to turn the service into a more advertiser-friendly online video service, BitTorrent saw its shareholder letter sneaking out and causing panic among investor DAG Venture. Now all that is left to be seen is how much longer can BitTorrent survive?