Kim Dotcom's Mega Looks to Hire CFO Ahead of Possible IPO
Kim Dotcom's new file-storage service Mega is looking to hire a CFO in the latest sign that it is eyeing a potential IPO down the line, Bloomberg News reported.
The venture, launched in January by the man accused of the biggest U.S. copyright infringement (via former company Megaupload.com), is advertising for a New Zealand-based CFO, it said. The ad highlights Mega's “aggressive growth plans” and says it plans to pursue an IPO within 18 months, according to the report.
In announcing Mega at the start of the year, Dotcom mentioned the goal of possibly listing the new business, which uses the company name The Privacy Co. on the New Zealand Stock Exchange.
The launch of Mega came after the shutdown of Megaupload.com, which U.S. prosecutors said cost copyright holders more than $500 million by illegally offering copyrighted material. Dotcom, 39, has been facing possible extradition to the U.S., which last week won a key ruling in its bid. A New Zealand appellate court ruled that the U.S. wouldn't have to turn over documents and that the coming extradition hearing would consider only a "limited weighing of evidence."
Mega allows users to upload, download and share files, including music and video files, similar to Dropbox. Experts have said it is too early to say whether Mega is legal. It allows file encryption with users having the only key to unlock files, which prevents governments and others from viewing the content in the files.