How is The Pirate Bay financed
The Pirate Bay: New fuss about buying the file sharing site
New fuss about the purchase of the file-sharing site The Pirate Bay: After the original prospective buyer got into payment difficulties with the company Global Gaming Factory X (GGF), the small manufacturer of wall calendars Business Marketing Services (BMSV) now wants to step into the breach and the buy controversial website. However, behind both companies is the same man - the illustrious Swede Hans Pandeya is managing director and co-owner of GGF and has recently become the main shareholder of BMSV. How the whole deal will be financed is completely unclear this time too.
The pirate bay posse and the sale of the site never end. Originally, the operators of the site, which had come to the brink of ruin after endless lawsuits against the music and film industry, wanted to sell the internationally known URL to the Swedish company Global Gaming Factory X. After all, the deal should flush 7.5 million euros into the tight coffers of the Pirate Bay operators. But the much discussed business collapsed after GGF was unable to raise the purchase price. The company itself got into financial difficulties and could not find an investor who would like to support the planned purchase with fresh money.
Calendar manufacturer to finance Piratebay purchase
The man behind and main initiator of the deal was the bustling businessman Hans Pandeya, who wants to set up a legal download service at The Pirate Bay address. Now Pandeya tries again to realize his project - with a more than windy business construction. At the beginning of the year, Pandeya secured the majority of shares in the small American company Business Marketing Services for 230,000 euros, which according to its own information mainly produces wall calendars. This company should now become an investor and enable GGF to purchase The Pirate Bay - only to then take over the file sharing side itself.
Financing uncertain this time too
Even BMSV does not have the necessary funds to cope with an investment of this magnitude. In fact, according to the audit report, the company has not yet made a cent of profit. Global Gaming Factory X should therefore initially receive a promissory note in the amount of the purchase price of 7.5 million euros. Only when GGF has completed the purchase of the file-sharing site on June 30, 2010, should the money actually flow. It is also unclear where this money will come from.
Private investors as a last resort
One model could be attracting many small investors. In March 2010, BMVS acquired software and source code from the Australian small company gTradenet, which specializes in bundling investments. Pandeya could therefore plan to use the gTradenet system to attract private investors to his project via the Internet. However, it is doubtful whether they will gain confidence in the business. After all, BMSV has not even been able to pay gTradenet so far - the three owners of the company are sitting on an unpaid promissory note of 230,000 euros.
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