In a very recent job posting, tweeted by none other than Kim Dotcom, it appears as though Mega is looking for a CFO in order to assist the company in preparing for an initial public offering or IPO. By taking the company public, it seems that Kim wants to take the company to higher levels than it was when Megaupload existed. Considering the fact that Mega is looking for a CFO and an IPO, we can only assume that they are looking to expand, greatly.
Currently, Mega only exists as a file sharing website that is designed to allow users to store up to 50GB of data on their servers and to safely and securely share that data with friends and clients. This can be accomplished via download link or creating shared inboxes. However, this model as we talked about before, has been modified to prevent Mega from being liable to any copyright infringement.
Lots of Mega’s fans may get angry with the idea that Mega is seeking to become a publicly traded company, however the reasons for doing so seem quite rational. If Mega was unable to raise enough capital for their subsequent projects after Mega, there’s good reason for them to seek capital on the public market. Additionally, it allows their proponents to support them by buying their stock and simultaneously benefiting from Mega’s success. By allowing Mega to access more capital, shareholders would unlock Mega’s full network of planned services, which are really what should make Mega an incredibly profitable venture.
Kim Dotcom has already teased about the existence of services like MegaBox and MegaMovie both of whom have the potential of completely disrupting the current models that exist within the entertainment industry. In our eyes, we believe that Megaupload was originally shut down because of their plans to start the music service MegaBox and not the actual filesharing service itself. MegaBox is expected to cut out all of the middlemen (except themselves, obviously) in the process of creating music. By removing, agents, managers and record labels they effectively reduce the cost to produce music while also giving the artist more money for their music. Additionally, since Mega has such a large audience, MegaBox hopes to find and promote artists solely on their own platform. It was quite clear that MegaBox already had some big name artists signed on to participate, which may have spooked the entertainment industry. Once again, they have recruited some well-known names and we have yet to see how that develops.
Nonetheless, Mega certainly has an interesting future ahead of it and we are curious to see how the search for a CFO turns out for Mega, as well as their hopes for future projects. We’re also curious where they’d be listed and what ticker they would use, perhaps something like MEGA would be appropriate? The best part? It isn’t taken yet.