BitTorrent President and Co-Founder Quits to Form Start-Up

Truemors :: BitTorrent President and Co-Founder Quits to Form Start-Up

BitTorrent President and Co-Founder Quits to Form Start-Up

Ashwin Navin, co-founder of BitTorrent and the man often blamed for the company’s erratic strategies, has announced his resignation as president and intention to form a start-up with YouTube co-founder Steve Chen. Navin has seen BitTorrent through strategy shifts, multi-million dollar funding efforts and major lay-offs and found himself as the blame game target when the business faltered. Navin’s new start-up venture with Chen, along with MySpace’s Aber Whitcomb and HotorNot’s Jim Young, has snapped up a building in San Francisco’s Mission District. Navin plans to remain on BitTorrent’s board and Chen has denied rumors he plans to leave his gig at YouTube. In the world of hourly lay-off announcements, it’s probably not a bad idea to keep a couple jobs just in case.