After changes in its business model and operations, BitTorrent has finally decided to return the leftovers o the $17 million Series C funding to the investors. With the business not gripping the roads it ought to have, the file sharing service has closed its new round at $7 million. There seems to be a great amount of dissatisfaction within the ranks. President and CEO, Eric Klinker said in his letter sent to shareholders stated:

last spring the Company was focusing its business efforts on content delivery services (DNA), embedded software (SDK) and our direct to consumer portal (the Store). Over the course of the summer it became clear that some of the Company’s businesses were not gaining sufficient traction, and that the Company would significantly miss its projections. In response, the Company substantially restructured various product offerings, closed the Store, laid off a significant number of employees, and made significant changes to our management team.

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