No Surprise Here: Pirate Bay Acquisition Falling Apart

from the and-there-it-goes... dept

Back at the beginning of July we expressed our doubts about GGF's "acquisition" of The Pirate Bay ever actually happening. The quotes from the CEO made very little sense, and he was clearly hedging his language. Some have suggested that the whole thing was just a pump & dump scam (and, in fact, there were early questions about insider trading). As more details came out, the "plan" behind the acquisition just didn't make much sense, and those on the inside started bailing out.

Greg Sandoval's been on the story, and has a few more updates that make the whole deal seem quite unlikely. First, remember how the same day GGF announced a plan to buy the company Peerialism, which would be the key component to making The Pirate Bay function as a legit service? Yeah, well, apparently GGF hasn't actually followed through on that deal at all, and Peerialism notes that GGF hasn't lived up to its contract terms or delivered any of the promised money at all -- and that no development work has been done. Then, this morning, trading in GGF shares was suspended again, as more doubts are being raised about the whole effort. From all this, plenty of people are now starting to realize there's as good chance that the deal itself is never going to happen.

The real question, though, is whether or not it was ever really expected to happen?


Reader Comments (rss)

(Flattened / Threaded)

  1.  
    identicon
    Anonymous Coward, Aug 21st, 2009 @ 1:44pm

    pump

    pause

    pause

    pause

    dump

    Any questions?

     

    reply to this | link to this | view in thread ]

  2.  
    identicon
    Anonymous Coward, Aug 21st, 2009 @ 2:19pm

    Re:

    that's what she said

     

    reply to this | link to this | view in thread ]

  3.  
    icon
    Dark Helmet (profile), Aug 21st, 2009 @ 2:26pm

    Re: Re:

    Pure gold!

     

    reply to this | link to this | view in thread ]

  4.  
    icon
    Josh (profile), Aug 21st, 2009 @ 2:37pm

    Even if TPB vanishes, the entire torrent catalog is being hosted on a new site.
    http://gizmodo.com/5342388/ahoy-cloned-pirate-bay-site-sets-sail

     

    reply to this | link to this | view in thread ]

  5.  
    icon
    Kevin Stapp (profile), Aug 21st, 2009 @ 2:52pm

    Re:

    Yep, world-spanning whack-a-mole. Good luck stamping out the 10,000 sites the will take TPB's place.

     

    reply to this | link to this | view in thread ]

  6.  
    identicon
    Trigeia Twins, Aug 21st, 2009 @ 8:21pm

    not surprising Trading in Pirate Bay Buyer's Stock Halted; Deal in Question http://www.trigeia.com/article.php?id=86218

     

    reply to this | link to this | view in thread ]

  7.  
    identicon
    Jay, Mar 2nd, 2010 @ 8:04am

    As commented on on a previous article, it seems this Hans Pandeya hasn't given up. He may have failed with his venture to purchase The Pirate Bay, but as this article states at The Music Void, he has something else in the pipeline? http://bit.ly/bX2mq0 What is he up to now exactly?

     

    reply to this | link to this | view in thread ]


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