Despite its technology being used for about half the world’s Internet traffic, BitTorrent, the company, has had difficulty figuring out how to monetize it.
This week it said it would terminate 18 of its 38 employees. The company had cut the number of employees by one-fifth in August. It is also moving CTO Eric Klinker up to replace CEO Doug Walker and co-founder Ashwin Navin is leaving the company.
BitTorrent Entertainment, which the company trumpeted as a better version of Apple’s iTunes, is being closed down. The company has tried unsuccessfully to convince makers of digital media adapters to embed its technology in their devices.
BitTorrent will focus on BitTorrent DNA, a content delivery network (CDN) that helps content and video game companies distribute their products over the Internet.