Earlier this week, Kim Dotcom, the flamboyant German-born entrepreneur and founder of file hosting site Mega, stepped down as director of the startup. Mega was launched in January this year and coincided with the seizure and shut down of Megaupload, its predecessor.
Launched with much pomp and show, Mega has undoubtedly been a success. Dotcom reported that the service acquired 100k registered users within the first hour of its launch, a number that jumped up to a million in two days. Kim also reported 500 uploads to Mega’s servers every second! According to other statistics published by the company, it currently hosts more than 50 million files. If the startup is doing so well, one may ask the question, why is the founder stepping down from administration?
Leaving Mega under the reigns of CEO Vikram Kumar, who was instated in February this year, Kim Dotcom has decided to move towards fresher ventures and brighter pastures. At the top of his bucket list right now seems to be a new music startup, which he’s decided to call Baboom. As tacky as the name may sound, the idea itself is not new. Dotcom has wanted to make a revolutionary music service ever since his row with Universal back in 2011.
Back then, the proposed name was Megabox, but Dotcom decided to use something better and without the mega branding. He has also said that the new company will be owned and managed completely by him, unlike Mega. Dotcom says the Baboom project has already received several millions in funding and tie ups with artists is an ongoing process.
Baboom aims to be a free music streaming service, wherein artists will receive 90% of revenues which will be collected using advertising. There will be a subscription model too, which will provide for an advert-less experience.
“I am really excited about Baboom. I can’t wait for artists to see what i have created for them. Their entire career can be managed on Baboom. Artists never had more freedom, transparency and control.” — Dotcom
Dotcom doesn’t plan on launching a less-than complete product, so we’ll have to wait a few months however, he does plan on keeping the excitement up throughout the waiting period and this teaser of the website he provides helps with just that.
In an emailed statement to a publication, Mega CEO Vikram Kumar said Dotcom — otherwise known as Kim Schmitz — resigned “to be able to focus on the extradition case, an upcoming music website, and to build a political party.” However Kim recently found out he can’t exactly run for parliament. His twitter says “I cannot run for parliament because I’m not a New Zealand citizen. But I can be Party President. So be it.”
So there we have it. New music service on the block and Kim Dotcom playing politics in New Zealand. How will it stack up against the formidable labels and how will he vie for the good public eye? Only time will tell.
Additional reporting aided by Torrentfreak exclusives.