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What a crazy twist for a startup that was doomed from the start. But the article doesn't really do a good job explaining how Johnson and Delamar were given cont
by NelsonMinar 10y ago
What a crazy twist for a startup that was doomed from the start. But the article doesn't really do a good job explaining how Johnson and Delamar were given control of the company. I get that Accel wanted out, but why just hand it over to a couple of bros with a plausible plan? I feel like there had to be deeper relationships involved, or else one hell of a pitch deck.
- FatCalico 10y agoKlinker vouched for them. He called Jeremy Johnson a "product visionary". Then as quid pro quo, BitTorrent (with Delamar and Johnson in control) funded Klinker's Resilio spin out (to the tune of about $5M of BitTorrent's cash). Oh yes, BitTorrent is still paying Klinker his CEO salary even to this day. Normally the BitTorrent's general counsel would have objected to all this but Klinker (the CEO) and BitTorrent's long time general counsel are married to one another. How the board ever allowed the CEO to hire his wife as general counsel is totally bewildering.
- NelsonMinar 10y agoWell that's fascinating innuendo. I'm not equipped to evaluate if it's true, but it makes sense. I wonder how the other equity owners feel about the outcome.
- loader 10y agoWhenever I read stories that involve guys like these that come in swinging and think they can change things and end up just spending everyone's money, I've always wanted to label this behavior and you got me thinking ... "Broxecutives".