Key Executive Exit Leaves Tron’s Acquisition of BitTorrent Lacklustre

The much-celebrated acquisition of BitTorrent by Tron seems to be on bumpy roads already, especially as far as retaining talent is concerned. In the recent news that is surfacing reports that two senior management employees which were from BitTorrent have already resigned. The report also states that three other employees that came to Tron from BitTorrent have also been fired.
Tron failing to retain talent a big blunder
In any acquisition, especially in software and technology, the key component of the business is talent. Being a critical part of the business, most acquisition in the history have failed or haven’t been able to add value is because the acquirer usually forgets that whatever he has acquired, was created by the key talent of that company. Tron too is going on same lines. Amongst the ones that have left Tron, post-acquisition is Bram Cohen, the man who created BitTorrent back in 2004. Bram Cohen has severed ties with BitTorrent after years of working to build his company tall and strong. Leaving his brainchild has raised questions and speculation that he might have been forced to leave the company.
Cohen told TorrentFreak, a blog that reports news about BitTorrent, that he no longer has an official role at the company, adding: “I have no involvement with Tron.” TorrentFreak also suggested that Cohen left because he was unhappy with the change in ownership.
Post-acquisition, as part of the agreement, the BitTorrent office moved to Tron’s premises in San Francisco and two organizations being culturally different, seems to have led to the friction.
Also, read: Tron Adoption in Overdrive with this New Support, Now Pay for Amazon, Starbucks with TRX
Will Justin Sun be able to meet his vision with BitTorrent
BitTorrent dint comes to Tron easily. Justin Sun, the creator of the Tron blockchain platform, purchased BitTorrent in June 2018, following a ten-month negotiation process. News that TRON was interested in acquiring BitTorrent first emerged in May of this year when TorrentFreak reported that Justin Sun was pursuing the purchase. Talks between Justin Sun and BitTorrent allegedly began in September 2017; Sun is said to have signed a ‘letter of intent to acquire’ in January 2018.
The proceedings of the deal hit a rough patch between then and now when Justin Sun filed a temporary restraining order against BitTorrent for shopping around to other bidders. Justin Sun argued that BitTorrent had agreed not to pursue other offers. Eventually, the restraining order was lifted, and Justin Sun formed a legal entity called “Rainberry Acquisition LLC”
Sun’s vision with BitTorrent was clear and hence he had fought this long battle. During the acquisition news, he was quoted saying,
“By integrating the TRON network into BitTorrent, we aim to improve on the currently existing altruism. At this point, there are no incentives for peers who have completed downloading to continue to seed. We intend to extend rewards to peers who seed torrents, infusing more resources into the torrent ecosystem.”
Although Tron had some great vision with BitTorrent, they are definitely failing in retaining the talent that came as part of the BitTorrent. Will this be a good strategy or not only time will tell? But history says usually losing talent is not good for an acquisition.
Will Tron be able to still deliver on its aim of acquiring BitTorrent even after Cohen’s exit? Do let us know your views on the same.
- FOMC Minutes, Jerome Powell Speech: Will Bitcoin Recover or Retrace Further?
- “Meme Coin SZN Is Here,” Says CZ As GIGGLE, 4 Price Skyrocket to All time Highs
- CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP
- Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage
- CleanCore’s Dogecoin Treasury Pays Off Big With $20M Gains as Holdings Near 1B DOGE
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?