Feeds

Dotcom plans Mega IPO as case grinds on

Updated: Kim can sue government, spies to own up

Top three mobile application threats

As a New Zealand court takes evidence so secret even Kim Dotcom's lawyers are barred from attending, the Megaupload founder has taken to Twitter to tout plans to take his latest venture public.

As Bloomberg reports, the company's apparent IPO plans first emerged via a job ad for a CFO. The ad, posted at New Zealand's TradeMe and Seek sites, doesn't mention Mega – that was left to Dotcom himself, who pointed to the positions in a Tweet.

Dotcom claimed in a separate Twitter posting that the IPO might create “a billion dollar company”, but the CFO hunt is more modest seeking someone with experience in companies in the five-to-fifty million dollar range.

News outlets such as National Business Review in New Zealand and AAP say the company could dual-list in Australia and New Zealand, since the job ad seeks someone familiar with raising capital in both countries.

Mega's CEO Vikram Kumar told NBR the Mega service claims around three million signups and “thousands” of paid users, adding that the service is planning desktop synchronisation, and apps for iOS and Android “over the next few weeks” to help it compete with Dropbox.

While Dotcom doesn't hold any shares in Mega, his wife's trust holds 90 percent of the company.

New Zealand's High Court is currently in a closed hearing to decide on evidentiary matters relating to the Dotcom case. His lawyers are barred from the current proceeding. ®

Update: New Zealand media are reporting that the country's Court of Appeal has today ruled that Dotcom can sue the Government Communications Security Bureau over its illegal spying on him and colleague Bram Van der Kolk.

According to 3News, the GCSB only needs to reveal information that is relevant to the case. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.